Trade turnover between Russia and the UAE has been a 10-fold increase for the 10 years

Trade turnover between Russia and the United Arab Emirates has been a 10-fold increase for the last 10 years. This was announced at the 10th meeting of the Intergovernmental Russian-Emirati Commission on Trade, Economic and Technical Cooperation by the Minister of Industry and Trade of the Russian Federation Denis Manturov. Business ambassador of Business Russia to the UAE, president of the Distributed Power Generation Association Maksim Zagornov also participated in the work of the Intergovernmental Commission.

Representatives of both the Russian and Emirati sides noted the positive dynamics and high level of bilateral trade and economic relations.

«Trade turnover between our countries has been a 10-fold increase for the 10 years. We see that this year the parameters of our trade turnover has been growing: the indicators are already 80 percent higher than last year. Last year, despite the fact that it was accompanied by Covid restrictions, was a record-breaking — almost $ 3.3 billion», noted the Minister of Industry and Trade of the Russian Federation Denis Manturov.

«Our relations have been developing steadily in recent years, especially in such areas as tourism, trade, energy and space.
We note the growth of bilateral trade and hope for its further increase», underlined the Minister of Foreign Affairs and International Cooperation of the United Arab Emirates Sheikh Abdullah bin Zayed Al Nahyan.

Business ambassador of Business Russia to the UAE Maksim Zagornov made proposals to strengthen Russian-Emirati cooperation. The expert spoke about the concrete steps taken by Business Russia to enter the Arab Emirates market, in particular, about the opening of the Business Russia Trading House in the Khalifa Free and Industrial Zone Abu Dhabi (KIZAD) — a structure that will provide comprehensive support to business association companies: from targeted partners selection to the contracts conclusion, delivery and cargo storage.

It should be noted that the10^th meeting of the Intergovernmental Russian-Emirati Commission was held at the threshold of the UAE's 50^th Golden Anniversary. The Emirati side noted that cooperation with Russia is one of the priorities in the country's international projects.

«We know how broad the Russian economy is and we want Russia to be our key partner», said the Minister of Foreign Affairs and International Cooperation of the United Arab Emirates Sheikh Abdullah bin Zayed Al Nahyan.

Signing of the final protocol became a final point of the 10^th meeting of the Intergovernmental Russian-Emirati Commission that included concrete proposals to strengthen Russian-Arab trade, economic and investment cooperation.