Russia hopes to sign agreement with UAE on services trade and investment in near future - Reshetnikov

MOSCOW. April 7 (Interfax) - Russia and the UAE could approve and sign an agreement on services trade and investment in the near future, Russian Economic Development Minister Maxim Reshetnikov said after a meeting with UAE Foreign Trade Minister Thani bin Ahmed Al Zeyoudi on Monday at the annual AIM Global 2025 investment conference in Abu Dhabi.

"The agreement will allow us to create better conditions for Russian companies to access the Emirates services market in over 100 sectors, from medicine, education and law to accounting, taxes and information technologies. Besides that, this document will allow us to strengthen interaction between Russia and the UAE in the finance and transport and logistics sectors," Maxim Reshetnikov is quoted as saying in a message from the Economic Development Ministry.

He said that such an agreement should facilitate the growth of Russian-Emirati investment partnerships and the bilateral trade of services, as well as encourage the development of goods trade through increased accessibility and a decrease in service export costs.

"Russia hopes that it and its Emirati partners will be able to agree on mutually acceptable trade conditions in the near future and conclude talks with a mutually beneficial agreement," the minister said.

Reshetnikov said that there are ongoing discussions on a free goods trade agreement between the Eurasian Economic Union (EEU) and the UAE. "At the moment, the document text is being examined by the individual states, undergoing the procedures which it needs to be signed in 'Eurasian Five' countries," he said.