In a sector EnergyThe UAE is a major partner of Russia within the framework of the alliance.OPEC Plus“, as the two countries coordinate their efforts to ensure stability Global oil marketIt is an essential factor in facing global economic fluctuations. This cooperation, in turn, contributes to enhancing the ability of both parties to adapt to changes in oil prices and provide joint solutions that meet the interests of both parties within the framework of the alliance.
On the other hand, I became… The UAE An important destination for Russian investments, as it hosts Emirates markets More than four thousand Russian companies, and the number of Russian trademarks registered in the UAE reached about 650. Russian companies have found a safe and stable environment for their investments in the UAE, in addition to it being an attractive market, whether in the real estate sector or in advanced technological fields, in addition to transportation and storage, the education sector, financial and insurance activities, as well as professional, scientific and technical activities.
This shift strengthens the UAE’s position as a leading regional platform for attracting international investments, with Russian capital continuing to flow into the country.
In a sector TourismThe UAE remains a major and leading destination for Russian tourists, as the two countries have close tourism relations that are constantly increasing, which enhances cultural and economic communication between the two peoples.
As represented Emirates investments More than 80 percent of the total volume of Arab investments is in Russia, most of which are concentrated in the gas, oil, and logistics sectors in Russia, as well as port development, infrastructure development, and other vital sectors.
This cooperation is reflected in the non-oil commercial sectors, where growth in trade exchange is accelerating, driven by the trend towards diversifying the economy and expanding the base of bilateral cooperation.
On the political level, this economic cooperation is an extension of the strong political relations between the two countries, as the UAE adopts a foreign policy based on diversity in international partnerships, which strengthens its position as a reliable partner for Russia in the Gulf region. On the other hand, Russia sees the UAE as an important gateway to the Gulf and Arab markets, which makes this relationship more important in light of global geopolitical challenges.
The Russian president was Vladimir PutinHe confirmed, in statements to Sky News Arabia, on Friday, that the visit of Sheikh Mohammed bin Zayed Al Nahyan, President of the United Arab Emirates, to Russia will be a fruitful visit. In response to a question from the Director General of Sky News Arabia, Nadeem Qutaish, during a symposium with media heads from the BRICS countries, Putin said that Russia has good relations with the UAE..
The Russian President continued: “Our economic relations are developing with the Emirates, and this appears through the increase in the volume of trade exchange. We also have an investment fund that works excellently, and these are basic data in bilateral relations.”
Putin added that regarding Middle East issues, Moscow takes Abu Dhabi’s positions into account. On the other hand, Putin referred to the role played by the UAE in the prisoner exchange between Russia and Ukraine.
Strong relationships
International relations expert and professor at Russia’s Lobachevsky University, Dr. Amr El-Deeb, said in exclusive statements to the “Eqtisad Sky News Arabia” website:
- The United Arab Emirates is considered one of the most important countries in the world that has had political, diplomatic, and of course economic relations with Russia in recent years.
- Sheikh Mohammed bin Zayed is the only international president outside the Soviet Union who has met with President Putin more than in recent years (..) This indicates the strength and durability of these relations, including the personal relations between Sheikh Mohammed bin Zayed and President Putin.
Al-Deeb says that joining The UAE The United Arab Emirates to join the BRICS group is a very big addition, and it can enhance economic communication between the two countries and increase the activity of the group at the international level, as the entry of the UAE gave the green light to many countries of the world to desire to join this group in one way or another.
And bear witness Economic relations between Russia and the Emirates Accelerated growth in vital sectors, which reflects the common desire to strengthen bilateral partnerships and expand the base of cooperation to include new and diverse fields, in light of developments in the international scene and global policy shifts.
And the Sheikh began Mohammed bin Zayed Al Nahyan President of the United Arab Emirates, official visit to the Russian Federation. This is a visit during which he discusses with President Vladimir Putin, President of the Russian Federation, various aspects of bilateral relations and ways to enhance them, especially in the economic, trade, investment, energy, and other aspects, within the framework of the strategic partnership that brings together the two countries, in addition to a number of regional and international issues of common interest.
During the visit, the UAE President will also participate in the 16th summit of leaders of the BRICS countries, which is hosted by the Russian city of Kazan during the period from October 22 to 24.
According to Russian President Vladimir Putin, trade between the two countries has tripled in the past three years, explaining – in statements published on the Kremlin website on Sunday – that investments between his country and the UAE amounted to $7 billion.
Broad partnership
For his part, Rami Al-Qalioubi, a professor at the Moscow Higher School of Economics, indicated in exclusive statements to the “Eqtisad Sky News Arabia” website that the visit of Sheikh Mohammed bin Zayed to Russia is of great importance. This is because Russia and the UAE are prominent economic partners.
One of the most prominent areas of cooperation between them is coordination in the field of energy, as they are partners in the OPEC Plus group and play a major role in stabilizing oil prices. The UAE also plays an important role in mediation between Russia and Ukraine, especially in the field of prisoner exchange.
Al-Qalioubi continues: On the economic level, the UAE is considered the leading destination for Russian foreign investments, especially in the fields of real estate and information technology, as Russian companies find in the UAE a safe and stable haven for their investments away from Western sanctions and the state of Russophobia in Europe and the West.
In this context, it is noteworthy that the United Arab Emirates is the first Arab destination for Russian investments, and accounts for 90 percent of Russia’s total investments in Arab countries, according to a previous report by the Emirates News Agency.
In addition, the two countries cooperate in the field of Tourism; The UAE is considered one of the leading destinations for Russian foreign tourism, along with Turkey, Egypt and Thailand, as dozens of flights depart daily from Russia to those countries, especially to Dubai, which is the main tourist destination in the country.
Non-oil trade exchange between the two countries increased from 13 billion dirhams in 2014 to 40.2 billion dirhams last year.
According to data from the UAE Ministry of Economy, in the year 2022, the volume of non-oil trade exchange between the two countries recorded a record jump of 108 percent, reaching 39.6 billion dirhams, compared to 19 billion dirhams in the year 2021. Also, in the period from 2010 until last year The volume of non-oil trade exchange between the two countries reached about 204 billion dirhams.
On the political level, the professor at the Moscow Higher School of Economics points out that the UAE seeks to adopt an independent foreign policy in its relations with international powers such as the United States, the European Union, Russia, and China. Participation in BRICS also provides the UAE with an opportunity for dialogue with leaders of major countries such as: Russia India, Brazil and China are far from Western hegemony.
Shared files
In addition, the Russian writer and researcher, Dmitry Bregea, said in exclusive statements to the “Eqtisad Sky News Arabia” website that relations between Russia and the United Arab Emirates are witnessing continuous improvement and growth. Especially in economic and commercial aspects.
He added: “There are common strategies, interests and files between the two countries in light of the changes taking place in international politics, as well as with regard to the BRICS summit,” pointing out that the UAE attaches great importance to being an important partner to Russia in the fields of energy, education and technology, in addition to exchanging experiences in various fields. .
He continues:
- These relations represent an important beginning for a comprehensive transformation in the BRICS system, which may play an alternative role in a multipolar global system.
- These developments represent the beginning of a multipolar world, and BRICS can be part of this formation.
- Sheikh Mohammed bin Zayed’s visit to Russia is an important strategic development, especially in light of the regional and international changes facing the two countries.
- Economic relations between the UAE and Russia have witnessed significant development in recent years, especially in the fields of energy, investments and technology, and this visit bears profound indications of the continuation of this growth in economic partnerships.
He says that the importance of this visit lies in several aspects: First, the UAE and Russia are major players in the global energy market, and their cooperation is within the framework of an organization known as the “Alliance.”OPEC+ “It was essential in achieving a balance in oil markets, especially during periods of price fluctuations. This visit may also witness strengthening cooperation in this sector, including joint investments in alternative energy, oil and gas projects.”
Secondly, it is important Investments Mutual exchange between the two countries, as the UAE is increasingly investing in the Russian market, especially in the infrastructure and technology sectors. Russia also considers the UAE a major gateway to entering the Gulf and Middle East markets. It is expected that during the visit, ways to boost Russian investments in the UAE will be discussed, including sectors such as artificial intelligence, agricultural technologies, and logistics services.
Third, in the geopolitical context, this visit comes at a time when the region is witnessing important transformations. Russian relations with the West have become more complex, and thus Russia seeks to strengthen its relations with Gulf countries such as the UAE to compensate for some of the economic and political consequences it faces. On the other hand, the UAE benefits from strengthening its relations with a global power like Russia, especially in light of the rapid changes in the Middle East, according to Breja.
