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His Excellency Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, held talks with His Excellency Andrey Slepnev, Commissioner for Trade of the Eurasian Economic Union, in Moscow to discuss expanding trade and investment opportunities between the UAE and the Eurasian Economic Union, which includes Russia, Belarus, Kazakhstan, Armenia and Kyrgyzstan. The Eurasian Economic Union has been an important partner for the UAE since its establishment ten years ago, with the UAE’s non-oil intra-trade with the Eurasian Union countries combined in the first half of this year recording $13.7 billion, a growth of 29.6% compared to the same period in 2023.
The two ministers also reviewed the progress made in the ongoing talks on the Comprehensive Economic Partnership Agreement, which have reached an advanced stage.
During the meeting, held yesterday in the Russian capital, the two ministers highlighted areas of cooperation with the greatest potential for the private sector on both sides, including logistics, manufacturing, agriculture and transportation, and the growing opportunities for creating a north-south trade corridor linking the UAE and Russia. They also discussed enhancing market access for growing services trade in both the UAE and the Eurasian Union.
His Excellency Dr. Thani bin Ahmed Al Zeyoudi stressed that the talks underscored the importance of the Eurasian Union to the UAE’s foreign trade expansion plans. He said: “Our commitment to open, rules-based trade is a fundamental pillar of our economic policy, and our pursuit of stronger ties with key partners around the world is helping to drive our non-oil foreign trade to record levels. Given its industrial capabilities, strong food production, and strategic location spanning two continents, the Eurasian Union is a key focus of these efforts.”
For his part, His Excellency Andrey Slepnev welcomed the visit of His Excellency Dr. Thani Al Zeyoudi, stressing that it reflects the strength of relations between the two sides. His Excellency pointed to the tangible positive results achieved after the four rounds of talks on the economic partnership agreement between the two sides.
He said: We cherish the long-standing friendship and strong economic relations between the member states of the Eurasian Economic Union and the UAE, and we believe that the Economic Partnership Agreement will enhance the mutual benefits of our countries and advance economic and trade cooperation.
