His Highness Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and President of the Russian Federation Vladimir Putin presided over a meeting that included officials in charge of economic cooperation in the UAE and Russia. The meeting dealt with the overall economic and trade relations between the two countries in the fields of energy, trade and investment, infrastructure, transport and tourism, food security and technology, and other vital areas that characterize the UAE-Russia relations.
The meeting touched on trade exchange between the two countries and the rapid growth witnessed in recent years, making the UAE the first trade partner of Russia in the Arabian Gulf region, and joint work to expand and deepen this exchange in the future.
The meeting also discussed the strategic partnership declaration signed between the two countries last year and its role in boosting economic relations between the two countries. The meeting also touched on the role of joint investment and economic bodies and entities in pushing forward economic and investment cooperation between the UAE and Russia.
The meeting explored the future of economic and development relations, and the need to invest the many promising opportunities available in the course of these relations, and to encourage partnerships at the governmental and private levels between the two countries during the coming period.
At the beginning of the meeting, His Highness Sheikh Mohammed bin Zayed Al Nahyan welcomed the attendance of Russian economic leaders, which contributed to the strengthening of economic relations between the UAE and the Republic of Russia.
His Highness said that the relations between the two countries have witnessed remarkable progress, stressing keenness to strengthen and expand these relations in all sectors to achieve the desired goals. His Highness praised the cooperation with the Russian Direct Investment Fund and the strengthening of cooperation in vital sectors. “We are confident that this cooperation will develop and grow in the future,” he said.
For his part, the Russian president welcomed the meeting to discuss the horizon of economic, investment and trade cooperation, stressing the importance of consolidating industrial and economic cooperation between the two countries. He said: "We consider the UAE as a central trading partner," pointing to the high volume of trade exchange between the two countries and achieving success in the investment fields. He pointed out that the Abu Dhabi Investment Authority is the first fund in cooperation with the Russian direct investment fund, and the return exceeds three times the global level, noting that the cooperation of the two sides include petrochemicals, health and transport, infrastructure, space and artificial intelligence. "We in Russia are doing our best to make foreign businessmen feel comfortable investing in Russia, and we have capabilities and opportunities in the fields of technology, transportation and various industrial, commercial and investment sectors," he said.
He pointed to the joint cooperation between the two countries in the field of oil extraction, welcoming the UAE to enter the production of the car «Urus», as well as cooperation in the field of agriculture and food, and we are ready to cooperate in the field of space exploration.
Crown Prince of Abu Dhabi:
"The relations between the two countries have witnessed remarkable progress and are keen to strengthen and expand these relations."
Russian President:
"The UAE is a pivotal business partner and ready to cooperate in space exploration."