The UAE and Russia’s strategic alliance has advanced significantly since President Sheikh Mohamed’s formal visit to Moscow. The two leaders discussed expanding cooperation in key areas, including the economy, commerce, investment, space, and energy, during their meeting at the Kremlin with Russian President Vladimir Putin.
The leaders discussed the development of UAE-Russian ties, which are based on more than 50 years of respect and trust between the two countries. According to the state news agency Wam, the visit, which started on Thursday and ended on Friday, resulted in the signing of the Trade in Services and Investment Agreement (TISIA), which aims to strengthen the two nations’ economic connections.
Financial technology, healthcare, transportation, logistics, and professional services are among the important industries covered by the pact. The TISIA expands upon the UAE’s current economic alliance with the Eurasian Economic Union (EAEU), which is made up of Russia and other members such as Kyrgyzstan, Belarus, Kazakhstan, and Armenia.
Suhail Mohamed Al Mazrouei, the UAE’s Minister of Energy and Infrastructure, and Andrey Nikitin, the Russian Minister of Transport, signed a Memorandum of Understanding (MoU) on land transport cooperation in addition to the TISIA.
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