UAE-Russia trade and investment agreement comes into effect
A trade and investment agreement between the UAE and Russia has officially come into force a year after it was signed, in a move aimed at boosting bilateral economic ties . It aims to increase collaboration across high-growth services sectors by establishing clear rules and protections for services trade and cross-border investment, the Ministry of Foreign Trade said. The trade in services and…
The UAE and Russia have finalized a trade and investment agreement, known as Tisia, after a year of negotiations. This agreement aims to enhance bilateral economic ties by creating clear rules for services trade and cross-border investments. It focuses on sectors such as FinTech, healthcare, transport, logistics, and professional services.
The agreement seeks to reduce barriers to market entry, facilitate the movement of professionals, and provide a more predictable environment for businesses. Dr Thani Al Zeyoudi, the UAE Minister of Foreign Trade, emphasized that the activation of this comprehensive trade and investment framework will unlock significant opportunities for businesses and investors in both nations.
The EAEU, which includes Russia and five other member states with a combined GDP of nearly $5 trillion, further strengthens this partnership. The UAE and Russia's bilateral non-oil trade reached $20.4 billion last year, a 77.7% increase from 2024. The UAE aims to increase its non-oil trade to $1.1 trillion by 2031, and it has already signed 38 Comprehensive Economic Partnership Agreements with various countries to support its trade agenda.
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