Eurasian Economic Commission, UAE to boost trade ties
Emirates and EEC Ministers discuss boosting trade, logistics, and investment, focusing on a North-South corridor
UAE and Eurasian Economic Commission Strengthen Trade Ties Amid Advanced Economic Partnership Talks
The Minister of Foreign Affairs of the United Arab Emirates, Thani Bin Ahmed Al Saidi, recently met with the Eurasian Economic Commission (EEC) Minister for Trade Andrey Slepnev in Moscow to discuss expanding bilateral trade and investment opportunities.
The Eurasian Economic Union (EEU) includes Russia, Belarus, Kazakhstan, Armenia and Kyrgyzstan.
Both the Ministers reviewed the progress of the ongoing negotiations on a Comprehensive Economic Partnership Agreement, which is at an advanced stage.
The two discussed potential areas of cooperation such as logistics, manufacturing, agriculture and transport, as well as prospects for a North-South trade corridor linking the UAE and Russia.
“With its industrial capabilities, strong food production sector and strategic location spanning two continents, the Eurasian Economic Union is a key focus of these efforts, and my discussions this week underscore a shared vision of closer economic integration,” Al Ciodi was quoted as saying. Through media reports from the Gulf.
Definitive decisions were reached following four rounds of negotiations on the Economic Partnership Agreement, Slepnev said.
The EEU has been a key partner of the UAE since its formation a decade ago. In the first half of this year, the value of non-oil trade between the UAE and EEU members reached $13.7 billion—a 29.6 percent year-on-year rise.
