The Business Russia proposals were included in the Final Protocol of the 11th meeting of the Russian-Emirati Intergovernmental Commission

The 11th meeting of the Russian-Emirati Intergovernmental Commission on Trade, Economic and Technical Cooperation was held in Moscow on March 15. The participants marked the dynamics and high level of bilateral relations between Russia and the UAE in 2022. The proposals of Business Russia Business Ambassador to the UAE Maksim Zagornov on strengthening trade and economic relations between Russian and Emirati companies were included in the final protocol of the IGC.

The meeting of the Russian-Emirati Intergovernmental Commission was chaired by Denis Manturov, Deputy Prime Minister, Minister of Industry and Trade of the Russian Federation and Abdulla bin Touq Al Marri, the UAE Minister of Economy.

The UAE delegation included representatives of the Ministry of Industry and Advanced Technologies, the Ministry of Finance, the UAE Space Agency, the Emirati Nuclear Energy Corporation (ENEC), Abu Dhabi Ports Group, DP World, Etihad Aviation Group.

Both the Russian and the Emirati parties marked the dynamics and high level of the bilateral trade and economic relationships.Thus, the trade turnover between the countries increased about 6 times and reached a record high of 9 billion dollars in 2022.

"At the moment, the UAE confidently holds the position of the leading foreign trade partner of Russia among the countries of the Arab world.Russian supplies are represented by various commodity groups: from petroleum products to diamonds and gold, from ferrous metals to mechanical engineering products.Food products that are in demand in the Emirati market such as wheat, barley, legumes, poultry meat, are also exported, " Denis Manturov noted.

"Both our countries are focused on further developing our relationships.We developed new cooperation programs between our countries that correspond to the long-term plans for the development of our country's economy in today's meeting.Among these programs are those aimed at the development of large, medium and small private companies of both countries, as well as the cooperation development in tourism, green economy, production development and the development of energy sector investments", Abdulla bin Touq Al Marri said.

The parties discussed a wide range of issues of bilateral cooperation in trade, economic and investment cooperation, in digital technologies, industry, healthcare, education and science.

The parties endorsed the initiative of Business Russia Business Ambassador to the UAE, Maksim Zagornov to boost trade and economic relations between Russian and Emirati companies by extending exchange of delegations, arranging joint events of Business Russia and the UAE Embassy in Russia with the Russian companies’ participation, as well as business missions to the UAE to take part in large international exhibitions.

This Business Russia’s proposal was included in the minutes of the 11th Meeting of the Russian-Emirati Intergovernmental Commission on Trade, Economic and Technical Cooperation (Final Protocol) signed by Denis Manturov and Abdulla bin Touq Al Marri.