UAE president wants to double trade turnover with Russia within 5 years

The United Arab Emirates President Mohammed bin Zayed Al Nahyan said Thursday that he wants to double the trade turnover with Russia in the coming five years, Anadolu reports.

“The trade turnover between Russia and the UAE reached $11.5 billion, our trade turnover with Eurasian countries reached $30 billion. Mr. President, we would like this figure to double over the next five years, both at the bilateral level and with Eurasian countries,” he said at a meeting with Russian President Vladimir Putin in Moscow.

He also said relations with Russia have been developing rapidly in recent years.

“I am very happy to be here today in the capital of the Russian Federation, which is known for its great history,” he said.

Sheikh Mohammed is in Russia, where he discussed issues related to the development of cooperation in trade, investment, and energy with Putin.

The two leaders also reviewed the state and prospects for further development of Russo-Emirati cooperation, as well as topical issues of the international agenda, including the situation in the Middle East.

Putin stressed the importance of an exchange of views on the situation in the region and in the sphere of international security.

“We actively interact on various platforms, starting with the UN, and you recently joined BRICS in a full-scale format,” he said, indicating that another treaty was signed with the Eurasian Economic Union, where good decisions were made.

“I think, on about 85% of commodity positions, many customs duties have been eliminated,” he said.