Russia-UAE trade triples over three years – Putin

Trade between Russia and the United Arab Emirates (UAE) has tripled over the past three years, according to Russian President Vladimir Putin.

During a meeting with UAE President Sheikh Mohamed bin Zayed Al Nahyan, Putin highlighted the strategic partnership between the two nations, despite a recent decline in trade over the first seven months of this year.

Putin noted that mutual investments have reached $7 billion, with sovereign funds collaborating on approximately 60 projects worth $2 billion.

The UAE remains a key trade partner for Russia in the Arab world, with significant exports including gold, diamonds, and oil products, while imports from the UAE consist of passenger cars, machinery, and agricultural equipment.

The leaders discussed the ongoing development of their bilateral relations and the implementation of existing agreements, emphasising the importance of addressing the recent trade decline.