UAE leader wishes to double trade turnover with Russia within half decade
(MENAFN) The President of the United Arab Emirates, Mohammed bin Zayed Al Nahyan, expressed on Thursday his ambition to double the trade volume between the UAE and Russia over the next five years.
During a meeting with Russian President Vladimir Putin in Moscow, Sheikh Mohammed highlighted that the current trade turnover between the two countries stands at $11.5 billion, while trade with Eurasian countries totals $30 billion. He emphasized the desire to see these figures double both bilaterally and with Eurasian nations in the coming years.
He praised the rapid development of relations with Russia in recent times and expressed pleasure in visiting Moscow, a city renowned for its rich history.
The two leaders discussed expanding cooperation in trade, investment, and energy sectors, as well as reviewed the current state and future prospects of Russo-Emirati collaboration. They also touched upon pressing international matters, including the situation in the Middle East.
Putin highlighted the importance of exchanging perspectives on regional and global security issues. He noted the active cooperation on various platforms, including the UN, and welcomed the UAE’s recent full membership in BRICS.
Additionally, Putin mentioned a new treaty signed with the Eurasian Economic Union, which has resulted in the removal of customs duties on approximately 85% of traded commodities, facilitating smoother trade between the partners.
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