Trade between Russia and the United Arab Emirates tripled over the last three years, said President Vladimir Putin as he hosted UAE ruler Sheikh Mohammed Bin Zayed Al Nahyan in Moscow ahead of official talks on Monday.
Bilateral investments between Russia and the UAE have reached $7 billion, he said in remarks published on the Kremlin’s website Sunday. Trade fell slightly in the first seven months of this year, Putin said, adding that the two leaders will discuss the matter in their negotiations.
They will also discuss Ukraine and the situation in the Middle East, which Putin called “very complicated.” He thanked the UAE ruler for the mediation of a prisoners exchange between Russia and Ukraine.
Trade relations between Russia and the UAE have blossomed after Moscow’s invasion of Ukraine. Putin on Sunday hosted Sheikh Mohammed at his residence for an informal dinner. The UAE leader will join the BRICS summit that is scheduled to begin on Tuesday in Kazan.
Sheikh Mohammed said the UAE will develop and strengthen its bilateral ties with Russia, according to the Kremlin’s statement.
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