MOSCOW, January 29. /TASS/. The Russian-UAE economic partnership is developing rapidly across all sectors, with several significant initiatives in the energy sector in place, Russian President Vladimir Putin said at talks with UAE President Sheikh Mohamed bin Zayed Al Nahyan.

"The Emirates are our important trading partner in the Arab world. Bilateral trade is growing and developing steadily," Putin said.

"There are several significant initiatives in the energy sector," he said about cooperation between the two countries. "Investment cooperation is at a good level: the Russian Direct Investment Fund and the Mubadala fund have implemented over 60 projects," Putin said, adding that "interaction in technology and industry is advanced; Yandex is promoting its services in the UAE market."

The Russian president also noted the work of the intergovernmental commission. "Its meeting took place a month ago in Dubai. The first Russian-UAE business forum was also held at that time," he said.