(MENAFN- Mid-East Info)

• The UAE's non-oil foreign trade with Russia reached $11.5 billion in 2024, growing by 4.9% compared to 2023.

• In H1 2025, non-oil trade with Russia increased to $6.65 billion, delivering a substantial 75.3% year-on-year increase.
• HE Dr Thani Al Zeyoudi:“The UAE continues to build partnerships around the world to achieve development and prosperity as well as provide more opportunities for the private sector and investors.”
  
  
  
  

Moscow, Russia – August, 2025: The United Arab Emirates and Russian Federation today signed a Trade in Services and Investment Agreement (TISIA), on the sidelines of the visit of His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, to Moscow, where he met Russian President Vladimir Putin and discussed ways to strengthen friendly relations between the two countries in a number of areas of mutual interest. This agreement is set to further enhance economic cooperation between the UAE and Russia, facilitating greater market access for services and encouraging increased foreign direct investment (FDI) flows.

The TISIA was signed by His Excellency Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of Foreign Trade, and Maxim Reshetnikov, Russian Minister of Economic Development. The agreement will complement the UAE's existing Economic Partnership Agreement (EPA) with the Eurasian Economic Union (EAEU). While the EPA covers trade in goods at the regional level, the TISIA provides a dedicated bilateral framework with Russia focused specifically on services and investment. It aims to bolster collaboration across various high-growth services sectors, including fintech, healthcare, transport, logistics and professional services.

His Excellency Al Zeyoudi said the services and investment agreement with Russia, coupled with the recently signed Economic Partnership Agreement with the countries of the Eurasian Economic Union, reflects a significant strengthening of our foreign trade network. This builds on the increasing value of UAE-Russia non-oil trade, which reached USD 11.5 billion in 2024, reflecting a 4.9% increase over 2023 and a 75.3% year-on-year rise in H1 2025.

As the UAE continues to prioritize foreign trade and investment through its expanding Comprehensive Economic Partnership Agreement (CEPA) program, this TISIA represents the latest step in enhancing the nation's role as a global hub for trade. The agreement will not only create new opportunities for businesses and entrepreneurs but will also solidify the UAE and Russia's commitment to long-term economic collaboration.

The CEPA program is a key pillar of the UAE's foreign trade agenda, which aims to increase non-oil foreign trade to US$1.1 trillion by 2031. In 2024, CEPAs contributed to the UAE's record non-oil trade of US$816 billion, marking a 14.6% year-on-year increase. The CEPA program is designed to drive economic growth by expanding opportunities for UAE businesses by enhancing access to high-growth markets around the world.

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