The total foreign trade between Russia and the UAE is set to reach around $4 billion by the end of this year, said Sergey Cherimin, Minister of the Government of Moscow.
Local media reports said that in 2020, the trade between the two countries amounted to $3.3 billion.
Chermin told the local media that trade turnover between the organizations registered in Moscow and their UAE partners was 1.6 times higher in H1 2021, compared to the same period of 2020.
He said dozens of operating companies with Emirati funds in their authorized capital are registered in Moscow
“Russian companies have opened offices in the UAE, and today there are more than 4,000 of them,” he said.
Commenting on the signed cooperation agreement, Cherimin highlighted that the framework of the program involves close cooperation in the fields of economy and trade, health, education, culture and urbanism, including an exchange of professional delegations and sharing best practices.
“I am sure that the signing of the Cooperation Programme between the two capitals will define a new stage in the relations between our cities, and will contribute to the existing partnership relations between our countries,” he said.
Chermin urged the UAE investors to actively explore the Moscow market, which has “great opportunities for business development”.