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Russia-UAE trade up three-fold in past three years — Putin

According to the Russian leader, mutual investments between Russia and the United Arab Emirates reached $7 billion and sovereign funds are working on about 60 projects worth $2 billion

NOVO-OGARYOVO, October 20. /TASS/. Trade between Russia and the United Arab Emirates has grown three-fold in the past three years, Russian President Vladimir Putin said.

"All our agreements are being implemented. And our relations can be seen as strategic partnership. In the past three years, our trade has increased by three times," he said at a meeting with his visiting UAE counterpart, Sheikh Mohamed bin Zayed Al Nahyan.

"Although, it has seen a decline in the first seven months of this year and this is a topic for discussion for us and the intergovernmental commission. Nevertheless, our relations are developing in all areas," he added.

According to the Russian leader, mutual investments between Russia and the United Arab Emirates reached $7 billion and sovereign funds are working on about 60 projects worth $2 billion.

The United Arab Emirates is Russia’s key trade partner in the Arab world. Russia exports to the UAE include gold, diamonds, oil products and imports from that country passenger cars, machines, and agricultural equipment.

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Vladimir Putin United Arab Emirates

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