Dubai’s external trade with Russia up 67%

According to statistics released by Dubai Customs, the emirate’s external trade with Russia was up 67 per cent in 2018 compared to 2016 levels.

In 2016, the trade was pegged at Dhs5.5bn, and climbed 37 per cent in 2017 to Dhs 7.38bn.

It rose another 25 per cent in 2018 to Dhs9.21bn.

In the first six months of 2019, Dubai’s external trade with Russia is already Dhs4.55bn.

Russian President Vladimir Putin is on an official state visit to the UAE beginning today. It is only his second visit since 2007.

According to Emirates News Agency (WAM), tourism between Russia and the UAE is increasing. More than 900,000 Russian citizens visited the UAE in 2018, according to WAM, while more Emiratis are also travelling to Russia – the world’s largest nation by land area by far – for holidays.

Putin’s visit to the UAE follows his visit to Saudi Arabia on Monday where he signed a slew of multi-million-dollar investment deals covering oil and other energy industries, space, justice, health services, tax administration, tourism and aviation, as well as cultural cooperation and the enhancement of trade relations.