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ST. PETERSBURG: The Emirates Businesswomen Council and the “Opora Russia” organisation have signed a memorandum of cooperation during the St. Petersburg International Economic Forum (SPIEF) held in Russia.
The agreement aims to strengthen cooperation in entrepreneurship, support for small and medium-sized enterprises, and women’s economic empowerment.
The signing was attended by Abdulla Bin Touq Al Marri, Minister of Economy and Tourism; Dr. Mohamed Ahmad Sultan Essa Al Jaber, UAE Ambassador to Russia, and Alexander Kalinin, President of the “Opora Russia” organisation.
Both sides affirmed that the memorandum represents an important step towards strengthening economic partnerships, expanding opportunities for cooperation in supporting women entrepreneurs, and exchanging expertise in line with sustainable development goals.
Meanwhile Russian President Vladimir Putin affirmed on Saturday that the BRICS group has become one of the most prominent drivers of global economic growth amid the increasing role of emerging economies and developing countries.
In a speech at the plenary session of the 29th St. Petersburg International Economic Forum (SPIEF), President Putin stated that over the past five years, BRICS countries have generated nearly half of the annual growth in global gross domestic product (GDP).
He pointed out, “At present, BRICS accounts for approximately 40 per cent of global GDP measured by purchasing power parity.
Business is naturally more interested in places where development is more dynamic and where there are prospects for increasing production and sales. Therefore, the focus of global trade, and with it the financial system, will also shift. In fact, it is already shifting.”
He added, “During the existence of BRICS, its share of global merchandise trade has more than doubled. Our member states accounted for almost a quarter of global exports. And this figure continues to grow steadily. So does intra-BRICS trade turnover, which has already exceeded $1 trillion.”
Putin noted, “BRICS countries have significantly increased high-tech exports. Our strategic partner China holds the largest number of patents in the field of artificial intelligence, where Russia also has very strong prospects.”
The Russian President stressed that the changes taking place globally are creating enormous opportunities, as the structure of growth is shifting in favour of the development centres of the Global South. These countries are experiencing population growth, the emergence of a middle class, the expansion of domestic markets and the development of their own scientific centres.
“The world becomes fairer when economic growth embraces billions of people who were previously on the periphery of the global economy. It is very important that the new centres of growth want to determine their own development trajectories. If we look at global GDP growth over the past five years, nearly half of its annual increase – 49 %- was generated by BRICS countries,” Putin added.
Meanwhile in December 2025, the Emirates Drug Establishment (EDE) has signed a Memorandum of Understanding (MoU) with the Ministry of Industry and Trade of the Russian Federation, on the sidelines of the UAE–Russia Joint Ministerial Committee meetings held on 10 December 2025.
The MoU was signed in the presence of Saeed bin Mubarak Al Hajeri, Minister of State, Chairman of the Board of Directors of the Emirates Drug Establishment, and Anton Alikhanov, Russia’s Minister of Industry and Trade. Also present were a number of officials and experts from both sides.
The memorandum aims to enhance bilateral cooperation in regulating medical industries and developing pharmaceutical manufacturing systems in accordance with the highest global regulatory practices and standards, thereby driving innovation and improving the efficiency of pharmaceutical supply chains for both parties.
Al Hajeri stressed that the MoU embodies the wise leadership’s vision of consolidating the UAE’s position as a trusted partner in pharmaceutical industries and health regulation as well as enhancing its role as a leading regional hub for offering innovative treatments according to the highest international standards.
He added that this cooperation with Russia builds on the UAE’s ongoing efforts to develop an advanced regulatory ecosystem that not only prioritises transparency, governance, and innovation but also enhances national drug security and improves the quality of healthcare services.
Al Hajeri emphasised that EDE is committed to strengthening the capabilities of the national pharmaceutical industry, developing specialised talent, and providing an integrated environment that supports sustainable growth.
He noted that these efforts would reinforce the UAE’s position as a global hub for the manufacture and regulation of medical products, in line with the National Strategy for Advanced Industry and Technology.
For her part, Dr. Fatima Al Kaabi, Director-General of the Emirates Drug Establishment, said: “The MoU reflects the UAE’s commitment to enhancing the quality of pharmaceutical manufacturing and strengthening the efficiency of facility inspection and oversight in line with global best practices. It will support the nation’s efforts being made to attract high-value investments and solidify its position as a regional hub for advanced pharmaceutical industries and future health technologies.”
Meanwhile last year continuing their mission to foster global collaboration and empower entrepreneurs and businesswomen, the Sharjah Business Women Council (SBWC) has forged a partnership agreement with the European Women’s Association (EWA) in Brussels to facilitate the exchange of best practices, promote bilateral investments, and organise joint events in Belgium and across Europe.
The signing ceremony was held on the sidelines of SBWC’s participation in the second edition of the Sharjah-Europe Business Women Forum in Belgium from 22nd to 26th September.
The MoU, signed by Mariam Bin Al Shaikh, Director of Sharjah Business Women Council, and Yulia Stark, Founder and President of European Women’s Association, focuses on empowering women to engage in entrepreneurship and business to realise the Sustainable
Development Goals. It also seeks to foster a safe, communal space for female founders where challenges and barriers to their engagement in entrepreneurship can be examined and addressed. The two sides will work towards providing opportunities for women-led enterprises to enhance their engagement in economic empowerment initiatives and highlight key governmental initiatives from both sides aimed at supporting women’s entrepreneurship.
Furthermore, the agreement commits both parties to work collaboratively to promote investment opportunities in their respective countries, address key areas of shared interest, and align these efforts with their overarching goals of fostering entrepreneurship, innovation, and technology.
In addition, the MoU specifies that each party will invite the other side to participate in seminars, conferences, and initiatives hosted by their respective organisations. This collaboration will extend to regional and international events across the EU, GCC, and Mena regions, enabling female leaders to engage with policymakers on sustainability and women’s empowerment.
WAM
