Russian-Emirati economic cooperation was discussed on the sidelines of the SPIEF.
Denis Manturov at the opening of a United Arab Emirates’ pavilion, with the Ruler of the Emirate of Ras Al Khaimah, Sheikh Saud bin Saqr Al Qasimi and UAE Minister of Economy Abdullah bin Touq Al-Marri
Deputy Prime Minister, Minister of Industry and Trade of the Russian Federation Denis Manturov attended the opening of the United Arab Emirates’ pavilion, and met with the Ruler of the Emirate of Ras Al-Khaimah, Sheikh Saud bin Saqr Al Qasimi and UAE Minister of Economy Abdullah bin Touq Al-Marri. He also took part in a Russia-UAE business dialogue.
In his welcoming speech at the opening of the pavilion, the Deputy Prime Minister noted the special nature of Russian-Emirati relations, strong ties of friendship and a rich history of cooperation based on the principles of mutual respect and trust.
“We are constantly expanding the range of areas in which we build our cooperation. We are implementing a number of industrial cooperation projects, initiatives in the field of transport and services, energy and food security. We have started talks on a Free Trade Agreement between the UAE and the countries of the Eurasian Economic Union. This will give an additional boost to the comprehensive development of our multilateral trade and economic ties,” Denis Manturov said.
The UAE’s participation in the St Petersburg Economic Forum as a guest nation is an important step for improving bilateral trade, economic and investment cooperation. The Emirati display was a magnet for both participants and guests, showcasing the nation’s aspiration to develop, improve and stride into the future. Its slogan, “The Impossible is Possible,” is a great reflection of the spirit of Russian-Emirati ties.
Denis Manturov took part in a business dialogue to discuss future priorities and prospects for expanding Russian-Emirati cooperation.
“I want to emphasise that both Emirati and Russian businesses are interested in exploring various cooperation areas. Russian companies are keen on deploying logistical and production capacities in the UAE. We also expect mutual investment to continue. In the past years, Emirati companies have invested in various areas of the Russian economy, and these investments have proved beneficial as evidenced by our trade figures. Today, we and our Emirati partners are implementing or considering projects in aviation, car manufacturing, metallurgy, machine building and pharmaceutics,” Denis Manturov said.
On the sidelines of SPIEF, Denis Manturov also met with Sheikh Saud bin Saqr Al Qasimi, the Ruler of the Emirate of Ras Al Khaimah, and Minister of Economy Abdulla bin Touq Al Marri, the chair of the Emirati section of the Intergovernmental Commission on Trade, Economic and Technical Cooperation.
The meetings served to discuss essential steps to advance major cooperation projects, including with regard for the agreements reached at the 21st meeting of the Commission in March 2023.
