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Russia, UAE agree to increase cooperation in energy, financial sector

Russia and the United Arab Emirates (UAE) agreed to expand cooperation in the spheres of energy, industry and banking,

ABU DHABI (Sputnik) – Russia and the United Arab Emirates (UAE) agreed to expand cooperation in the spheres of energy, industry and banking, Russian Foreign Minister Sergey Lavrov said on Tuesday.

“We agreed to intensify our efforts to support our economic operators in order to increase our trade turnover, mutual investments, as well as cooperation in the spheres of energy, industry and banks,”

Lavrov said following the meeting with Abu Dhabi Crown Prince and Deputy Supreme Commander of the UAE Armed Forces Mohammed bin Zayed Al Nahyan.

Lavrov noted that trade and investment ties between the two states are developing, especially due to the Intergovernmental Russian-UAE Commission on Trade, Economic and Technical Cooperation and related expert panels. The next commission’s meeting is expected to take place by the end of the year, he added.

The minister also praised a steady growth in the flow of tourists from Russia to the UAE.

On Sunday, Lavrov started a three-day working visit to Kuwait, the UAE and Qatar, during which he is expected to discuss bilateral relations and regional conflicts, including Qatar’s diplomatic rift with several Arab states.

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