The United Arab Emirates and Russia have signed a Trade in Services and Investment Agreement (TISIA), a strategic move aimed at deepening bilateral economic ties between the two nations. The agreement was signed in Moscow by H.E. Thani bin Ahmed Al Zeyoudi, UAE Minister of Foreign Trade, and H.E. Maxim Reshetnikov, Russian Minister of Economic Development.
By the Numbers
- Dhs42.23 Billion: The value of non-oil trade between the UAE and Russia in 2024.
- 75.3%: The year-on-year increase in non-oil trade in the first half of 2025.
- Dhs4.04 Trillion: The UAE’s total non-oil foreign trade target by 2031.
A Strategic Expansion of Economic Partnerships
This new agreement is a key part of the UAE’s broader Comprehensive Economic Partnership Agreement (CEPA) programme. It complements the UAE’s existing Economic Partnership Agreement with the Eurasian Economic Union by creating a specific bilateral framework with Russia that is focused on the services and investment sectors. The deal is set to expand collaboration in key areas such as fintech, healthcare, transport, logistics, and professional services.
Leadership on Global Trade
H.E. Thani Al Zeyoudi stated that the agreement will strengthen the UAE’s foreign trade network. “The UAE continues to build partnerships around the world to achieve development and prosperity as well as provide more opportunities for the private sector and investors,” he said in a statement.
A Core Part of the UAE’s National Vision
The CEPA programme is a cornerstone of the UAE’s national economic strategy, which aims to raise non-oil foreign trade to Dhs4.04 trillion by 2031. These agreements have already proven highly effective, helping to drive the country’s record non-oil trade of Dhs2.99 trillion in 2024.
Looking Ahead
This new agreement with Russia is set to further accelerate the UAE’s economic diversification and strengthen its position as a global hub for trade and investment. It provides a clear framework for increasing investment flows and creating new opportunities for businesses in both countries.
Source: Gulf Business
