Abu Dhabi, August 22 (WAM) - The trade agreement in services and investment between the United Arab Emirates and the Russian Federation has officially entered into force, marking a new phase in the comprehensive economic partnership between the two countries and opening wider horizons for cooperation in service sectors and reciprocal investments in value-added sectors.

The agreement contributes to expanding the scope of access of service exports to markets, enhances investor protection procedures, and provides new opportunities for the private sector to cooperate and invest in various high-growth service sectors.

The agreement was signed last year on August 8, 2025, in Moscow during the visit of His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the State (may God protect him), to the Russian Federation. It was signed by H.E. Dr. Thani bin Ahmed Al Zeyoudi, Minister of Foreign Trade, and H.E. Maxim Reshetnikov, Minister of Economic Development in Russia.

The agreement provides a bilateral framework between the UAE and Russia that specifically focuses on services and investment, complementing the economic partnership agreement between the United Arab Emirates and the Eurasian Economic Union, which includes Russia as a member. It covers trade in goods at the regional level. Together, these two agreements form a comprehensive system that stimulates trade in goods, services, and investments between the two friendly countries.

H.E. Dr. Thani bin Ahmed Al Zeyoudi, Minister of Commerce and Industry, said: The entry into force of the trade agreement on services and investment between the United Arab Emirates and Russia, along with the economic partnership agreement with the Eurasian Economic Union, fully activates a comprehensive trade and investment framework that opens new horizons for companies and investors in both countries.

He added: Russia is a key economic partner for the UAE. The value of bilateral non-oil trade reached $20.4 billion in 2025. The agreement deepens cooperation in priority service sectors, including fintech, healthcare, transportation, logistics, and professional services, driving long-term sustainable growth and shared prosperity.

The agreement aims to strengthen cooperation in diverse high-growth service sectors by establishing clear rules and guarantees for cross-border trade in services and investment. This helps reduce market entry barriers, facilitate the movement of professional skills, and create a clearer environment for companies operating in both markets.

The bilateral trade relationship between the UAE and Russia has experienced exceptional growth in recent years. The value of non-oil trade reached $20.4 billion in 2025, an increase of 77.7% compared to 2024, nearly double its level in 2022 ($10.8 billion).

Russia is a founding member of the Eurasian Economic Union, a bloc of five countries with a total population of 200 million and a GDP of around $5 trillion. The UAE signed an economic partnership agreement with it in 2025.

The trade agreement on services and investment with Russia comes within the broader commercial strategy of the UAE, which is based on the Comprehensive Economic Partnership Agreements program. Several agreements have been concluded since its launch in September 2021, with economies in Asia, Africa, Europe, and the Americas.

The Comprehensive Economic Partnership program embodies the UAE’s commitment to open, rules-based trade, which drives economic growth and diversification, and provides new opportunities for companies in high-growth markets around the world.