US and Russia hold business dialogue on rebuilding ties

The meeting in Dubai set out a long-term agenda for stronger cooperation, according to a joint statement

Russia and the US have held a meeting to restore and strengthen business ties and contacts, the press service of Roscongress Foundation said on Tuesday. The two sides agreed to make the business dialogue an annual event.

According to a joint statement issued following this week’s meeting in Dubai, UAE, contacts between the Russian and American business communities should continue in a motivated and politically unbiased format.

Roscongress, the organizer of the forum together with the American Chamber of Commerce in Russia (AmCham Russia), said the meeting focused on prospects for cooperation, rebuilding mutual trust, and restoring company-to-company links.

The Russian delegation was led by Sergey Katyrin, president of the Russian Chamber of Commerce and Industry, while AmCham Russia President and CEO Robert Agee headed the US side.

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“Russian and American companies continue to seek solutions for implementing investment, industrial, technological, and infrastructure projects,” said Katyrin.

The participants said they hope the dialogue will improve conditions for businesses in both countries, reduce risks, and strengthen confidence.

“It is crucial for businesses to maintain working communication channels,” Agee said, adding that the US side wants to explore practical cooperation with Russian partners where possible.

Many international businesses pulled out of Russia due to the unprecedented Western sanctions imposed after the escalation of the Ukraine conflict in 2022. Others left to avoid the risk of secondary sanctions or broader international pressure.

Agee recently told Russian media that American businesses still view Russia as a promising market and are waiting for the lifting of sanctions.

The US and Russian delegations discussed opportunities across a range of sectors, including investment, industry, technology, and infrastructure projects, according to the statement.