Dubai: Dubai: His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, today met the Prime Minister of Russia, Mikhail Mishustin, at Expo 2020 Dubai. The meeting was also attended by Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance.
Prime Minister Mishustin is in UAE to participate in the opening ceremony of Russia National Day at Expo 2020 Dubai.
During the meeting, Sheikh Mohammed welcomed Prime Minister Mishustin, praising the strong bilateral relations between the two countries under the leadership of President His Highness Sheikh Khalifa bin Zayed Al Nahyan and Russian President Vladimir Putin.
“The UAE shares unique relations with Russia, 80 per cent of Arab investments in Russia are from the UAE and 90 per cent of Russian investments in the Arab world are in the UAE. We have 4,000 Russian companies, and we are the largest trading partner of Russia in the Gulf,” Sheikh Mohammed tweeted.
The meeting discussed regional and international issues of mutual concern and highlighted the importance of maintaining security and stability. Sheikh Mohammed and Prime Minister Mishustin also exchanged perspectives on accelerating global recovery from the COVID-19 pandemic.
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Facilitating cooperation
During the meeting, the two sides discussed ways to boost bilateral relations in various sectors to achieve the aspirations of both the nations. The meeting also explored ways of facilitating cooperation between the private sectors of both the countries. The UAE is currently home to more than 4,000 Russian companies.
The two sides expressed optimism about enhancing partnership and cooperation in vital sectors, including trade, investment, energy, industry, innovation, financial services, banking, customs, food security, agriculture, education, transport, information, communication technology, media, culture, tourism, sports, environmental protection, natural resource management, circular economy, fourth industrial revolution and space.
Host of dignitaries
The meeting was also attended by Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, Chairman of the Dubai Media Council; Sheikh Ahmed bin Saeed Al Maktoum, President of Dubai Civil Aviation Authority, Chairman and Chief Executive of Emirates airline and Group, and Chairman of the Expo 2020 Dubai Higher Committee; Sheikh Mansoor bin Mohammed bin Rashid Al Maktoum, Chairman of Dubai Council for Border Crossing Points Security; and Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Tolerance and Coexistence and Commissioner General of Expo 2020 Dubai.
Strong trade ties
The UAE is Russia’s largest trade partner in the Gulf region, accounting for 55 per cent of the total trade between Russia and the Gulf Cooperation Council. During the first half of 2021, the value of non-oil trade between the UAE and Russia reached about $2 billion (Dh7.35 billion), a significant growth of more than 80 per cent compared to the same period last year.
The UAE is also a top Arab destination for Russian investments, accounting for nearly 90 per cent of Russia’s total investments in Arab countries. On the other hand, the UAE is the largest Arab investor in Russia, with a contribution of more than 80 per cent of the total Arab investments in Russia. The volume of foreign investments exchanged between the UAE and Russia is about $1.8 billion.
