27.01.2023 (Обновлено: 02.02.2023 14:27)

Mikhail Myasnikovich held meeting with Mohammad Ahmad Al Jaber, Ambassador of the United Arab Emirates Extraordinary and Plenipotentiary to Russia

Mikhail Myasnikovich, Chairman of the Board of the Eurasian Economic Commission, held a meeting with M. A. Al-Jaber, Ambassador of the United Arab Emirates Extraordinary and Plenipotentiary to the Russian Federation, on January 27 at the EEC's headquarters.

The meeting discussed issues of trade and economic cooperation between the Eurasian Economic Union countries and the UAE, including prospects for increasing export and import deliveries and diversification of trade.

The first step towards intensifying cooperation between the EAEU and the UAE was the Memorandum of Interaction between the Eurasian Economic Commission and the Government of the UAE signed on the sidelines of the St. Petersburg International Economic Forum in June 2022, which made it possible to form an institutional framework important for further dialogue.

In December 2022, the Supreme Eurasian Economic Council decided to start negotiations on a Free Trade Agreement between the EAEU and its Member States, on the one part, and the United Arab Emirates, on the other part.

“We expect to carry on negotiations on a fast-track basis”, the Chairman of the EEC Board stressed. "Along with that, the relevance of deepening cooperation between the EAEU, its Member States and the UAE across a wide range of issues is confirmed by the significant commercial presence of the Union countries in the UAE, as well as the interest of the Emirati business community in the EAEU. We will do utmost to create comfortable and favorable conditions for our interaction”.

The parties also discussed the schedule of upcoming contacts. In particular, Mikhail Myasnikovich invited the UAE officials and entrepreneurship to take an active part in the Eurasian Economic Forum scheduled for May 24-25.

For reference

The EAEU-UAE trade increased 4 times from 2015 to 2021, the EAEU exports to the UAE increased 4.7 times, and the EAEU imports from the UAE grew by 47%. Along with that, the trade turnover increased by another 55% during the period from January to October 2022 compared to the same period in 2021.