Dmitry Patrushev and UAE Vice President Sheikh Mansour bin Zayed Al Nahyan discuss their countries’ cooperation on BRICS grain exchange
Dmitry Patrushev and UAE Vice President Sheikh Mansour bin Zayed Al Nahyan discuss their countries’ cooperation on BRICS grain exchange
Dmitry Patrushev and UAE Vice President Sheikh Mansour bin Zayed Al Nahyan discuss their countries’ cooperation on BRICS grain exchange
During his working trip to the United Arab Emirates, Russian Deputy Prime Minister Dmitry Patrushev met with UAE Vice President – Deputy Prime Minister Sheikh Mansour bin Zayed Al Nahyan.
“Cooperation between the Russian Federation and the United Arab Emirates is of a strategic nature. This year marks the 55th anniversary of our diplomatic relations. Despite the challenging international environment, our ties continue to develop dynamically, largely due to the trusting dialogue between our leaders. The United Arab Emirates remains one of Russia’s key economic partners in the Middle East. Last year, bilateral trade reached a historic high. I would also like to highlight the steady growth in agricultural cooperation: over the past three years, mutual trade in this sector has more than doubled,” Dmitry Patrushev said.
The Deputy Prime Minister noted that Russian companies were interested in further expanding exports to the UAE market, not only in food products but also in mineral fertilisers.
The parties also addressed a wide range of issues related to bilateral cooperation, including agriculture and environmental management. Particular focus was placed on the initiative to establish a BRICS grain exchange. This proposal has met support from all BRICS leaders, and its operational framework is currently under development.
The creation of a BRICS grain exchange is expected to strengthen global food security. It will enable member countries to develop independent pricing benchmarks within the association, facilitating a more objective valuation of agricultural commodities on the global market.
