UAE and Russia Forge Stronger Economic Ties with Landmark Services and Investment Agreement
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A new era of bilateral economic cooperation has begun between the United Arab Emirates and Russia, solidified by the signing of a Trade in Services and Investment Agreement (TISIA). This agreement marks a pivotal step in bolstering economic relations and attracting increased foreign direct investment (FDI) between the two nations.
The signing ceremony took place in Moscow during a visit by Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, where he engaged in discussions with Russian President Vladimir Putin regarding avenues for deepened collaboration across shared interests. Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of Foreign Trade, and Maxim Reshetnikov, Russian Minister of Economic Development, formally signed the agreement, signaling a commitment to enhanced economic partnership.
Expanding Beyond Goods: A Focus on Services
While an existing Economic Partnership Agreement (EPA) with the Eurasian Economic Union (EAEU) primarily centers on trade in goods, the TISIA establishes a dedicated bilateral framework specifically targeting high-growth services sectors. These key areas include:
“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,” a senior official stated. This strategic move underscores the UAE’s commitment to diversifying its economic partnerships and capitalizing on emerging opportunities.
Rapid Growth in Bilateral Commerce
Trade between the UAE and Russia is already demonstrating significant momentum. Non-oil trade reached $11.5 billion in 2024, representing a 4.9% increase compared to 2023. Furthermore, trade volume surged by an impressive 75.3% year-on-year in the first half of 2025, highlighting the accelerating pace of commercial exchange.
Aligning with the UAE’s CEPA Program
The TISIA is strategically aligned with the UAE’s ambitious Comprehensive Economic Partnership Agreement (CEPA) program, a central pillar of its foreign trade strategy. The CEPA program aims to elevate the United Arab Emirates’ non-oil foreign trade to $1.1 trillion by 2031, building upon a record $816 billion achieved in 2024 – a substantial 14.6% year-on-year increase.
By streamlining market access, encouraging investment, and fostering a supportive environment for entrepreneurs, the UAE–Russia TISIA reinforces both nations’ dedication to long-term economic collaboration and solidifies the United Arab Emirates’ position as a leading global trade hub.
