The two-day forum culminated in a final communique, declaring the participants' intention to develop cooperation in trade, tourism, and the services sector, as well as to share information and technology on the basis of market principles.
The communique underlines the importance of developing cooperation in the banking sector, including through branches of banks and finance institutions.
The session participants agreed to set up a joint transportation company and to exchange delegations and exhibitions with a view to revealing each other's economic and commercial potential.
The Council's next session is to be held in Moscow at the end of June this year. And in 2005, it will gather for a session in the Lebanese capital, Beirut.
The Russo-Arab Business Council was founded by the Russian Chamber of Industry and Commerce and the General Union of the Arab Trade, Industry and Agriculture Chambers in July 2002. Last fall, its Russian and Arab memberships were registered, respectively, in Moscow and al-Kuwait.
The Council is a non-profit organization aimed at promoting the development of economic cooperation between Russia and the Arab world.