03:14 GMT04 December 2020
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    According to the Russia Duma speaker Sergei Naryshkin, economic ties between Russia and UAE remains a key priority for Russia.

    MOSCOW (Sputnik) — Improving trade and economic ties between Russia and the United Arab Emirates (UAE) remains a priority for Russia, the speaker of Russia’s lower house of parliament Sergei Naryshkin said Friday.

    "The priority, of course, is with the task of continuously expanding trade, economic and investment links between our countries. We are assuming that the small reduction in trade volume recorded in 2015 and early 2016 in due to a negative global economic situation," Naryshkin said during a bilateral meeting with UAE Federal National Council President Amal Qubaisi.

    The speaker noted that Qubaisi's visit to Russia indicates a commitment to inter-parliamentary dialogue between the Russian State Duma and the UAE Federal National Council, which acts as a representative body in the Gulf monarchy.

    "We value the traditionally friendly relations with the UAE, which are one of our leading partners in the Gulf," he added.

    In March, Russian President Vladimir Putin met with Abu Dhabi Crown Prince and Deputy Supreme Commander of the UAE Armed Forces Mohammed bin Zayed bin Sultan Al-Nahyan in Moscow. The sides discussed bilateral relations mainly in the areas of trade and economy, according to the Kremlin.

    Russia and the UAE have a long history of diplomatic relations. Russia-UAE relations stand out for their high level of political dialogue and intensive exchange of delegations.

    Bilateral trade in goods and services grew for five years starting in 2009, reaching almost $5.5 billion by 2014, according to official Russian statistics. Trade between the two countries fell 20 percent in 2014. In the first nine months of 2015, bilateral trade decreased by almost half compared to the corresponding period in 2014.

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    Tags:
    priority, trade, bilateral ties, Sergei Naryshkin, UAE, Russia
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