The Intergovernmental commission of the UAE and the Russian Federation held a meeting in Moscow

On March 15, the 11th meeting of the Intergovernmental Russian-Emirati Commission on Trade, Economic and Technical Cooperation took place in Moscow.

During the meeting, attended by the Minister of Industry and Trade of the Russian Federation Denis Manturov and the Minister of Economy of the United Arab Emirates Abdulla bin Touq Al Marri, discussed a number of issues of bilateral cooperation between the countries.

Both the Russian and Emirati sides noted the rapid dynamics and high level of bilateral trade and economic relations, emphasizing the significant growth in trade turnover between the countries — up to 9 billion dollars in 2022.

«Both our countries are determined to further develop relations. During today’s meeting, we have developed new joint cooperation programs between our countries that correspond to the long-term plans for the development of our country’s economy. Among these programs are those aimed at the development of large, medium and small private companies of both countries, the development of cooperation in the field of tourism, in the field of green economy, in the field of production development, as well as the development of investments in the energy sector,» Abdulla bin Touq Al Marri said.

At the moment, the UAE is Russia’s largest foreign trade partner among the Persian Gulf countries. «Russian supplies are represented by various commodity groups – from petroleum products to diamonds and gold, from ferrous metal products to mechanical engineering products. Food products in demand in the Emirati market are also exported: wheat, barley, legumes, poultry meat,» Denis Manturov noted.

During the meeting, the parties agreed to increase joint efforts to maintain a steady growth of trade between the countries, expand the trade structure and achieve a balance of commodity flows.