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ABU DHABI / WAM
The volume of non-oil trade between the UAE and Russia touched about US$1.6 billion during the first 9 months of 2016, compared to about $2.5 billion during the whole of 2015, according to a report released by the UAE Ministry of Economy, on reviewing the trade policies with Russia. The report also shed light on the main developments in Russia’s economic sectors during past years. It presented Russia’s achievements in main economic growth indicators and the developmental steps that it took to enhance its investment environment and develop trade ties with other countries, and trade relations between UAE and Russia.
Hind Al Youha, Head of Foreign Trade Policies at the Ministry of Economy, said the ministry is improving its knowledge of public and private sectors, and economic and trade policies, in many countries around the world. It also briefs interested authorities in the UAE about the economic developments in partner countries, through periodic reports about trade policies of different countries, she added. The report highlighted efforts of UAE and Russia to develop their economic ties, and stressed that UAE’s main exports to Russia include optical guidance ships, fire-fighting ships, sweeping ships, ornaments, pre- cious metals and tea, while its imports from Russia includes diamonds, raw gold, wheat.