The UAE-Russian Business Council recently discussed means of developing the UAE-Russian economic relations, enhancing cooperation in the digital economy field, and fostering joint investments in the fields of information technology, cloud computing, artificial intelligence, and smart services in all economic sectors.

This came during a meeting organized by the Council at the Dubai Chamber of Commerce and Industry headquarters, in the presence of HE Abdullah Sultan Al Owais, Chairman of the UAE-Russian Business Council and Chairman of the SCCI, Sergey Gorkov, Chairman of Russian-Emirates Business Council, and representatives of a number of UAE and Russian IT companies.

Abdullah Sultan Al Owais pointed to the strength and growth of the UAE-Russian relations in different vital sectors, especially the economic and investment ones, explaining that the volume of trade exchange between the two countries has grown significantly in recent years, where Russia ranked first among the UAE's trading partners in Eastern Europe and Central Asia, while the UAE maintained its position as Russia's main trading partner in the Gulf region.

Stressing that the UAE-Russian Business Council plays a substantial role in developing economic relations, increasing the growth of trade exchanges, and overcoming the various challenges facing investors, Al Owais underlined the importance of the meeting in promoting joint cooperation in the field of the digital economy, and developing investments in the field of digital infrastructure, in a way that serves the sustainable economic development of both sides.

Sergey Gorkov underscored that Russian businessmen and investors are very keen to launch their investments and businesses in the UAE, thanks to the state’s diversified investment environment and stimulating economic climate, stressing the keenness of the UAE-Russian Business Council to take the bilateral economic relations to new heights.

Gorkov concluded his remarks affirming the willingness of the Russian business community to hold successful partnerships with their Emirati counterparts in the field of the digital economy, owing to the promising opportunities in the UAE in this vital sector.