Dmitry Patrushev at a working meeting with UAE Minister of Economy Abdulla Bin Touq Al Marri
Dmitry Patrushev at a working meeting with UAE Minister of Economy Abdulla Bin Touq Al Marri
Dmitry Patrushev at a working meeting with UAE Minister of Economy Abdulla Bin Touq Al Marri
United Arab Emirates’ Minister of Economy Abdulla Bin Touq Al Marri
Dmitry Patrushev at a working meeting with UAE Minister of Economy Abdulla Bin Touq Al Marri
Russian Deputy Prime Minister Dmitry Patrushev had a working meeting with United Arab Emirates’ Minister of Economy Abdulla Bin Touq Al Marri on the sidelines of the 28th St Petersburg International Economic Forum. The officials discussed bilateral cooperation issues, including the establishment of a BRICS Grain Exchange.
“The Russian Federation and the United Arab Emirates maintain a strategic relationship. The United Arab Emirates is among Russia’s most important economic partners in the Middle East. The agro-industrial sector is making a substantial contribution to expanded trade. Last year, our countries expanded agricultural produce sales by almost one-third. Russia ranks among leading global grain exporters. This produce is the mainstay of Russian shipments to the United Arab Emirates. We are counting on further cooperation. At the same time, we find it important to expand intra-BRICS dialogue. BRICS accounts for almost 50 percent of global consumption of grain and oil-bearing crops,” Dmitry Patrushev said.
The Deputy Prime Minister recalled that Russia had suggested establishing the BRICS Grain Exchange; this should simplify intra-BRICS grain trade. Dmitry Patrushev noted that the establishment of the BRICS Grain Exchange would strengthen global food security. The countries involved will be able to formulate independent price indicators within the BRICS framework. And this will help more objectively evaluate the cost of agricultural produce on the international market.
