MOSCOW, October 31. /TASS/. The trade turnover between Russia and the United Arab Emirates increased to $6.6 bln during the first half of this year, Russian Finance Minister Anton Siluanov said in conclusion of the Russia-UAE financial dialogue.

"The trade turnover between Russia and the UAE increased almost twofold during six months of this year, to $6.6 bln. This is a visible result of the bilateral interaction. Furthermore, the UAE remains the key partner of Russia in the sphere of cross-border payments," Siluanov said, cited by the Ministry of Finance.

Joint efforts created favorable conditions for development of the entire complex of Russia-UAE relations, particularly in the sphere of economy, investments and finance, he stressed.

"The first meeting of the Russia-UAE financial dialogue was successfully held in February of this year, where a broad range of issues was discussed and the basis was laid to continue working in such format. An important event was signing of the updated double taxation agreement," Siluanov said.

Furthermore, the issues of using artificial intelligence in the budgetary process became the key topic of the meeting. The parties also outlined promising areas for building up cooperation and noted that finance ministries of the two countries managed to build efficient interaction.