The United Arab Emirates President, Mohammed bin Zayed Al Nahyan, has expressed his desire to double the trade turnover between the UAE and Russia in the coming five years. During a meeting with Russian President Vladimir Putin in Moscow, Sheikh Mohammed stated that the current trade turnover between the two countries has reached $11.5 billion. “The trade turnover between Russia and the UAE reached $11.5 billion, our trade turnover with Eurasian countries reached $30 billion. Mr. President, we would like this figure to double over the next five years, both at the bilateral level and with Eurasian countries,” he said.
Sheikh Mohammed also highlighted the rapid development of relations between the UAE and Russia in recent years. “I am very happy to be here today in the capital of the Russian Federation, which is known for its great history,” he said. The UAE President is in Russia to discuss issues related to the development of cooperation in trade, investment, and energy with Putin.
During the meeting, the two leaders reviewed the state and prospects for further development of Russo-Emirati cooperation. They also discussed topical issues of the international agenda, including the situation in the Middle East. Putin stressed the importance of an exchange of views on the situation in the region and in the sphere of international security.
“We actively interact on various platforms, starting with the UN, and you recently joined BRICS in a full-scale format,” Putin said, indicating that another treaty was signed with the Eurasian Economic Union, where good decisions were made. “I think, on about 85% of commodity positions, many customs duties have been eliminated,” he added.
The meeting between the UAE President and the Russian President demonstrates the commitment of both countries to strengthening their bilateral relations. The potential doubling of trade turnover between the two countries is expected to have a positive impact on their economies and further enhance their cooperation in various fields.