UAE, Russia review broader economic cooperation

Abdullah bin Touq Al Marri, Minister of Economy and Tourism, said the United Arab Emirates and the Russian Federation enjoy strategic relations built on mutual understanding and shared economic interests. His remarks were delivered during the 12th meeting of the Intergovernmental Russia–UAE Commission on Trade, Economic and Technical Cooperation, held in Dubai and co-chaired by Bin Touq and Russian Industry and Trade Minister Anton Alikhanov, with representatives from government and private-sector entities from both countries attending.

Bin Touq said the current session of the committee represents a new step toward building fruitful partnerships between the business communities and private sectors of both countries. He said it strengthens cooperation and provides support for entrepreneurs from both sides in a way that contributes to the growth and sustainability of their economies, noting that cooperation focuses on new economy sectors and priority areas that serve the mutual interests of the two countries.

He highlighted the committee’s role in exploring promising opportunities in both business environments and outlined the enablers offered by the UAE’s business ecosystem, including flexible economic laws allowing 100 percent foreign ownership and an advanced environment covering more than 2,000 economic activities.

The agenda included work plans and cooperation mechanisms in investment, energy, industry and innovation, food security and agriculture, education, transport and logistics, tourism, sports and culture, environmental protection, healthcare and other fields.

Both sides agreed to continue joint efforts to develop new mechanisms for economic cooperation in priority sectors and to support entrepreneurs from both countries, contributing to expanding the scope of economic collaboration between the UAE and Russia.