Arab states-Russia trade to top $7 bn

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Moscow, October 18:: Trade between Russia and Arab states will exceed USD seven billion, head of the Moscow Mission of the League of Arab States (LAS) Jumaa Ibrahim al-Farjani has said.

"Arab businessmen are interested in the Russian market," al-Farjani told Itar-Tass with regard to an exhibition, Arabia-Expo, that will open here on October 22.

The exhibition would become the most significant event in Russian-Arab relations in the last decade, he said.

"Business communities of both sides will get to discuss mutually beneficial agreements," he said, adding, "The exhibition will be a good base for development of trade and economic interaction."

Relations between Russia and Arab states have reached a new level. Arabia-Expo exhibition is aimed at restoring economic contacts and mapping out joint investment projects, said vice president of the Russian Chamber of Commerce and Industry Gennady Petrov.

"All Arab states, which are interested in more intensive trade and economic contacts with Russia have been invited."

Eighteen LAS member-countries have already confirmed their participation in the exhibition.