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Russia, UAE trade decline related to unfavorable economic environment

June 03, 17:00 UTC+3 MOSCOW
The task of raising the trade, economic and investment cooperation between the UAE and Russia is still of the highest priority, says Russia’s State Duma speaker
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Russia’s State Duma speaker Sergey Naryshkin at the meeting with UAE’s Federal National Council Speaker Amal Al Qubaisi

Russia’s State Duma speaker Sergey Naryshkin at the meeting with UAE’s Federal National Council Speaker Amal Al Qubaisi

© Alexander Shalgin/Russian State Duma Press Office/TASS

MOSCOW, June 3. /TASS/. Russia’s State Duma (lower house) speaker Sergey Naryshkin says the decline of trade with the United Arab Emirates (UAE) is related to the "unfavorable global economic environment."

"The task of raising the trade, economic and investment cooperation between our countries is still of the highest priority. We assume that the slight decline of trade reported for 2015 and early 2016 is related to unfavorable global economic environment," he said at the meeting with UAE’s Federal National Council Speaker Amal Al Qubaisi on Friday.

Meanwhile the investment cooperation between the two countries has been rapidly growing, Naryshkin added.

"The relations between Russia and UAE cover a wide range of areas," he said, adding that Moscow "appreciates the traditionally friendly relations with the United Arab Emirates", which is one of its key partners in the Persian Gulf.

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