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DUBAI / WAM
Dubai external trade with Russia has witnessed rapid growth in the past few years, from AED 5.5 billion in 2016 to AED 7.38 billion in 2017 (37%) and in 2018 it made AED 9.21 billion, a 25% increase compared to 2017.
The figures show a 67% growth in two years from 2016 to 2018. Trade with Russia in first six months of 2019 reached AED 4.55 billion.
Statistics, released by Dubai Customs in conjunction with landmark visit of Russian President, Vladimir Putin, to the UAE, showed that major commodities between the two sides were diamonds, gold, phones, cigars and vehicle spare parts.
“Dubai trade with Russia is gaining more weight and momentum reflecting a developed and healthy economic ties between two countries,” said Ahmed Mahboob Musabih,
Director General of Dubai Customs.
“We work hard to ensure best services and facilities are provided to Russian businesses and companies. There are more than 3,000 Russian companies in the UAE and we go above and beyond to support mutual trade in fulfilment of directives and wise vision of HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. We look forward to more cooperation with Russian diplomatic missions and companies in the forthcoming period, especially with the advent of Expo 2020,” Musabih added.
Musabih pointed out that the Russian economy is growing fast and this unleashes a host of investment opportunities that will benefit the peoples of the two countries.