UAE looks to boost Russia trade to $23B despite Trump tariff threats
The two countries signed a trade agreement focusing on several key sectors, including fintech, health care, logistics, transportation and services.
The United Arab Emirates is looking to double trade with Russia over the next five years, plans that could irk Washington, which has threatened to impose tariffs on countries trading with Moscow.
What happened: On an official visit to Russia this week, United Arab Emirates President Sheikh Mohammed bin Zayed Al Nahyan said he wanted to double trade with the country in the coming five years.
"The trade turnover between Russia and the UAE reached $11.5 billion; our trade turnover with Eurasian countries reached $30 billion. Mr. President, we would like this figure to double over the next five years, both at the bilateral level and with Eurasian countries," Sheikh Mohamed told Russian President Vladimir Putin during a meeting in the capital Moscow on Thursday, according to Russia’s Interfax agency.
The UAE and Russian leaders also discussed cooperation in investment, energy and space.
