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Russian President Vladimir Putin arrives in the UAE

Russian President Vladimir Putin arrives in the UAE

Investment deals worth around $1bn are expected to be signed during the visit

Russian President Vladimir Putin arrived in the UAE on Tuesday for his first official visit since 2007.

Putin, who visited Saudi Arabia on Monday, was received at the airport by Abu Dhabi Crown Prince Sheikh Mohamed Bin Zayed Al Nahyan.

The two leaders are set to hold talks on improving bilateral ties and regional and international developments.

Ahead of his visit, Putin called the UAE as a “close and promising partner”.

Trade between Russia and the UAE stands at $1.7bn, but plans are underway to further boost relations, Putin told official news news agency WAM earlier this week. “This is not enough, we are well aware of that, so currently, we are working with the UAE’s sovereign fund,” he said.

Read: Dubai’s external trade with Russia up 67%

According to Russia’s sovereign wealth fund, the two countries are expected to sign 10 investment deals worth more than $1bn during the visit.

On Sunday, UAE’s foreign minister Sheikh Abdullah bin Zayed Al Nahyan and Russian minister of Industry and Trade Denis Manturov also co-chaired the ninth meeting of the UAE-Russia joint committee in Abu Dhabi.

“We are cooperating to ensure stability in the region and working together to counter and confront all forms of the extremist ideology,” Sheikh Abdullah said.

The two countries are improving bilateral relations in the areas of trade, tourism, military cooperation and space sciences, he explained.

On energy market, Sheikh Abdullah said: “The UAE and Russia have over the recent years co-operated to maintain the balance in the world oil markets and tackle imbalances in supply and demand fluctuations to ensure the aspired balance and stability in the markets.”

The minister also highlighted increased tourism between the UAE and Russia following the mutual entry visa waiver agreement. Russian arrivals to the UEA have risen from 580,000 to nearly one million, while the number of UAE tourists to Russia has also grown by 58 per cent, he added.

Also read: Saudi, Russia sign multi-million dollar investment deals during Putin visit

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