Russian official: Russian-Emirati investments jumped 10-fold

MOSCOW, May 16 (KUNA) -- An official at the Russian Ministry of Economic Development said on Friday that the volume of mutual investments with the UAE has jumped tenfold, making the UAE the third largest investor in Russia.
This statement by the Director of Development of Bilateral Cooperation Department at the Russian Ministry of Economic Development, Pavel Kalmychek, came during a discussion session held on the sidelines of the 16th International Economic Forum (Russia - Islamic World: Kazan Forum 2025).
He added that the volume of trade exchange between the two countries has tripled over the past five years, expressing his country's readiness to boost its exports of agricultural and food products to the UAE, in addition to wood products, ferrous and non-ferrous metals.
He pointed out that productive cooperation and industrial localization are among the most prominent areas of future partnership, noting the successful establishment of an industrial trade center in the UAE's free economic zone, which includes more than 40 Russian companies.
Kalmychek emphasized that the UAE's demand for Russian technology is witnessing a significant increase, especially in the fields of information security, facial recognition, control and management centers, as well as transportation services and voice assistant applications.
He added that Russia is open to further cooperation in the sectors of nuclear medicine, biotechnology, cybersecurity, and artificial intelligence, calling on Emirati companies to benefit from Russian expertise in these fields.
Regarding tourism, the Russian official revealed that approximately two million Russian tourists visited the UAE in 2024, while Russia witnessed a more than 50 percent increase in the number of flights from the UAE, supported by the visa-free regime and the availability of direct flights.
He said that the Kazan Forum, which continues until May 18, represents a model of growing cooperation between Russia and the Islamic world, particularly Arab countries, stressing that bilateral relations are witnessing remarkable development across various political, economic, and service sectors.
The 16th edition of Kazan International Economic Forum kicked off on May 13 with the participation of representatives from 103 countries, reflecting the growing importance of this event as a key platform for dialogue between Moscow and the OIC countries. (end) dan.ao