Qualitative leap in UAE-Russia relations

The visit of Russian President Vladimir Putin to the UAE, his second since 2007, and the signing of several agreements and memoranda of understanding, has helped bolster the already-strong bilateral relations across multiple sectors.

The agreements, signed in the presence of His Highness Sheikh Mohamed Bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and President Putin span various vital sectors, including trade and investment, sustainability and environment, with the clear idea of developing further strategic partnerships.

The UAE’s relationship with Russia dates back over 47 years when Founding Father late Sheikh Zayed Bin Sultan Al Nahyan laid the foundations of bilateral ties.

There has been a flurry of activity in recent times with the goal of further strengthening cooperation.

For example, strong mutual collaboration in the space sector saw Emirati astronaut Hazzaa Al Mansoori join the recent mission onboard a Russian spaceship to the International Space Station.

According to Abdullah Al Saleh, Under-Secretary of the Ministry of Economy for Foreign Trade Affairs, the value of non-oil trade between the UAE and Russia over the past five years amounted to $14.1 billion, while last year’s non-oil trade totalled $3.4 billion, compared to $2.5 billion in 2017, a growth of 36 per cent.

Over 3,000 Russian companies are currently operating in the UAE, mainly in real estate, trade, manufacturing and telecoms, along with 576 trademarks and 25 registered commercial agencies.

Cultural relations too have developed rapidly. Sharjah was the guest of honour at the 2019 Moscow International Book Fair, in celebration of its Arab and international cultural status after it was chosen as the World Book Capital.

The UAE will be welcoming Russia as the Country of Honour for the 30th Abu Dhabi International Book Fair 2020.

The UAE waived visa requirements for Russians and citizens of the Commonwealth of Independent States, CIS, in 2017 to encourage tourism from the region.

Mohammed Khalifa Al Mubarak, Chairman of the Department of Culture and Tourism in Abu Dhabi, has stated that the number of Russian tourists visiting Abu Dhabi in 2019 grew significantly, by 33.7 per cent compared to the same period in 2018.

The Russian Music Festival hosted by Abu Dhabi at the start of 2019 featured 14 concerts by 30 Russian artistes.

Abu Dhabi recently hosted the Grammy Award-winning composer, Mikhail Plitnev, and the Russian National Orchestra, which held two concerts in the Abu Dhabi Cultural Complex Theatre at the opening of the Abu Dhabi Classical Music Season 2019-2020.

As per Suhail Bin Mohammed Faraj Faris Al Mazrouei, Minister of Energy and Industry, Russian oil and gas companies have expressed interest in investing in the UAE market, as they play an important role in exporting Russian expertise in the field.

Similarly, UAE companies are looking to increase investments in Russia’s oil and gas sector.

So far, Mubadala Petroleum’s investments in the Russian oil sector exceeded $300 million. The company, in cooperation with the Russian Fund for Direct Investment, has established a joint venture with “Gazprom” to develop a number of oil fields in the Tomsk and Omsk regions in Western Siberia.

Before embarking on his visit, Putin informed the media that he sees the UAE as one of Russia’s very close and promising partners, adding that the partnership is vigorously developing in all areas. That sums up the strength of the bond between the two mighty nations.