UAE And Russia Wants To Increase Business Relationship

 


The United Arab Emirates and Russia wants to increase economic cooperation during a presidential visit The leader of the UAE President Sheikh Mohamed will travel to Kazan Russia later this month. He will join other leaders of major emerging economies for the Brics summit. 


Brics is a group of five countries that includes Brazil Russia India China and South Africa These countries are see as developing economies that are becoming more powerful global. The leaders meet every year to discuss business and trade issues. This year summit is from October 22 to 24 in Kazan city of Russia. 


President Sheikh Mohamed aims to strengthen ties with Russian President Vladimir Putin during the visit The two nations have been partners in the areas of energy infrastructure development and trade Russia is one of the major trade partners and sources of oil and gas for UAE. UAE investments in Russia has grown in recent years across various sectors.


The report mentions that both leaders previously met in December last year in Abu Dhabi They discussed ways to enhance bilateral cooperation across industries Strengthening business links is important as global economy faces high inflation and uncertainties. Emerging markets are looking for increased trade and investments.


The Brics summit provides opportunities for UAE and other members to network and initiate new joint projects Major topics of discussion will include global economic challenges energy security digital technology and climate change Increased economic ties with Russia and other bloc members helps diversify partnerships for UAE.


The presidential visit aims to further boost trade and investments between UAE and Russia. They can explore collaborating on infrastructure tourism healthcare and renewable energy projects Stronger Brics cooperation also benefits emerging economies to tackle international issues and further their development.

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