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UAE, Russia talk investments

Abu Dhabi / WAM

The UAE Minister of Economy, Sultan bin Saeed Al Mansouri, on Tuesday met Russian Minister of Agriculture, Aleksandr Nikolayevich Tkachev, on the sidelines of the Gulfood 2016, a major food and hospitality trade event in the region. The UAE imports around 80 percent of its food needs, a major challenge that the UAE is working to overcome in the future, Al Mansouri said during the meeting. Non-oil trade between the UAE and Russia, including trade in free zones, stood at US$3 billion in 2014, he noted. The pair discussed ways of bolstering the UAE-Russian economic and trade cooperation in agriculture and food security through joint investments.

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