The recent implementation of the trade agreement on services and investment between the United Arab Emirates (UAE) and the Russian Federation marks a significant milestone in the comprehensive economic partnership between the two nations. This agreement opens up broader avenues for collaboration in high-value-added sectors, facilitating the exchange of services and investments.
Enhancing Trade and Investment Opportunities
This agreement plays a crucial role in expanding the reach of service exports to various markets, bolstering investor protection measures, and creating new opportunities for the private sector to engage in fruitful collaborations and investments across rapidly growing service sectors.
Signed last August in Moscow during His Highness Sheikh Mohamed bin Zayed Al Nahyan’s visit to Russia, the agreement was inked by Dr. Thani bin Ahmed Al Zeyoudi, Minister of Foreign Trade, and Maxim Reshetnikov, Minister of Economic Development in Russia. It establishes a bilateral framework focused explicitly on services and investment, complementing the existing economic partnership agreement between the UAE and the Eurasian Economic Union, which includes Russia. Together, these agreements create a comprehensive system to stimulate trade in goods, services, and investments between the friendly nations.
A Strong Economic Partnership
Dr. Thani bin Ahmed Al Zeyoudi highlighted that the operationalisation of this agreement, alongside the partnership with the Eurasian Economic Union, fully activates a robust trade and investment framework that unveils new prospects for businesses and investors in both countries. He emphasised, “Russia is a vital economic partner for the UAE, with non-oil bilateral trade reaching $20.4 billion in 2025.” The agreement aims to deepen cooperation in priority service sectors, including fintech, healthcare, transportation, logistics, and professional services, consequently driving sustainable long-term growth and shared prosperity.
Fostering Multilateral Trade Relations
The agreement is not only about services but also focuses on constructing clear foundations and guarantees for cross-border service trade and investment. By lowering barriers to market entry and facilitating the mobility of skilled professionals, it aims to create a more transparent environment for companies operating in both markets.
In recent years, the bilateral trade relationship between the UAE and Russia has experienced remarkable growth, with the value of non-oil trade reaching $20.4 billion in 2025, showcasing a 77.7% increase compared to 2024, nearly doubling from the $10.8 billion recorded in 2022.
Strategic Trade Initiatives
As a founding member of the Eurasian Economic Union, which comprises five countries with a total population of around 200 million and a GDP nearing $5 trillion, Russia plays a crucial role in the UAE’s trade strategy, with a comprehensive economic partnership agreement established in 2025. The trade agreement on services and investment aligns with the UAE’s broader trade strategy, which rests on a foundation of comprehensive economic partnership agreements, many of which have been signed since the initiative was launched in September 2021 with various economies across Asia, Africa, Europe, and the Americas.
This comprehensive partnership programme underscores the UAE’s commitment to rule-based open trade, spurring economic growth and diversification while presenting new opportunities for companies in high-growth markets worldwide.