Al Zeyoudi noted that the second-of-its-kind agreement with Russia reflects the UAE’s expanding economic footprint in the EAEU region and focuses on liberalising and supporting strategic sectors, including financial and fintech services, business consulting, hospitality, logistics, renewable energy, and infrastructure development.

These agreements aim to enhance investment flows and support the economic diversification strategies of both the UAE and its partner nations.

He noted that UAE–Russia relations are witnessing significant growth, with non-oil trade between the two countries reaching about US$11.5 billion in 2024, marking an increase of nearly 5% compared to the previous year. Data for the first half of the current year showed exceptional growth of up to 75% compared to the same period last year, driven by the overall expansion of economic relations.

He noted that the agreement with Russia builds on last month’s signing of the EAEU-wide CEPA, which provides for the liberalisation of 95% of total trade volume and 85% of tariff lines between the UAE and the Eurasian bloc.

Dr. Al Zeyoudi highlighted the strategic importance of Eurasia as a priority trade expansion zone, noting its population of over 200 million people.

He added that bilateral trade with the Eurasian bloc grew by 27% in 2024, reaching nearly US$30 billion, a testament to the UAE’s forward-looking policy of economic openness and global integration.