UAE and Russia sign deal to boost $11.5bn trade relations

The UAE and Russia have signed a Trade in Services and Investment Agreement (TISIA), marking a significant step in strengthening bilateral economic ties and expanding foreign direct investment (FDI) flows between the two nations.

The signing took place in Moscow during the visit of Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, who met with Russian President Vladimir Putin to discuss ways of deepening cooperation across areas of mutual interest.

The agreement was signed by Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of Foreign Trade, and Maxim Reshetnikov, Russian Minister of Economic Development.

UAE-Russia trade

While the existing Economic Partnership Agreement (EPA) with the Eurasian Economic Union (EAEU) focuses on trade in goods, the new TISIA provides a dedicated bilateral framework with Russia, targeting high-growth services sectors such as:

• Fintech
• Healthcare
• Transport
• Logistics
• Professional services

Al Zeyoudi said the services and investment agreement with Russia, coupled with the recently signed Economic Partnership Agreement with the countries of the Eurasian Economic Union, reflects a significant strengthening of our foreign trade network. 

UAE–Russia non-oil trade reached $11.5bn in 2024, up 4.9 per cent from 2023, and surged 75.3 per cent year-on-year in H1 2025, underscoring the rapid growth in bilateral commerce.

The TISIA aligns with the UAE’s Comprehensive Economic Partnership Agreement (CEPA) programme, a cornerstone of its foreign trade strategy.

The CEPA programme aims to grow the United Arab Emirates’ non-oil foreign trade to $1.1tn by 2031, building on a record $816bn in 2024, a 14.6 per cent increase year-on-year.

By easing market access, fostering investment, and creating new opportunities for entrepreneurs, the UAE–Russia TISIA reinforces both nations’ commitment to long-term economic collaboration and strengthens the United Arab Emirates’ role as a global trade hub.