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Russian businesses have experienced a significant increase in contracts with countries in the Middle East and North Africa, according to the Moscow Mayor. From January to September 2024, the value of contracts surged by 53% to over 730 million Rubles.
The city government highlighted the region’s importance for Moscow exporters, stating that the city’s Department of Entrepreneurship and Innovative Development actively supports companies entering these markets. With the city’s support, the value of contracts with Middle Eastern and North African partners increased by 53% in the first nine months of 2024 compared to the same period last year. Since 2021, the total volume of supported exports to these regions has exceeded 2.4 billion Rubles, the city’s government said.
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Business missions have also been crucial in finding partners and securing export deals. The Moscow Export Center (MEC) has played a vital role in facilitating this growth. Since 2021, Moscow entrepreneurs, with MEC support, have conducted negotiations with counterparts from Iran, Bahrain, Kuwait, Saudi Arabia, the UAE, Jordan, Morocco, Algeria, and Egypt, according to the statement.
