Dubai External Trade With Russia Grows 25% To AED 9.21b In 2018

Dubai external trade with Russia has witnessed rapid growth in the past few years, from AED 5.5 billion in 2016 to AED 7.38 billion in 2017 (37 percent) and in 2018 it made AED 9.21 billion, a 25 percent increase compared to 2017.

DUBAI, (UrduPoint / Pakistan Point News / WAM - 14th Oct, 2019) Dubai external trade with Russia has witnessed rapid growth in the past few years, from AED 5.5 billion in 2016 to AED 7.38 billion in 2017 (37 percent) and in 2018 it made AED 9.21 billion, a 25 percent increase compared to 2017.

The figures show a 67 percent growth in two years from 2016 to 2018. Trade with Russia in the first six months of 2019 reached AED 4.55 billion.

Statistics, released by Dubai Customs in conjunction with the landmark visit of the Russian President, Vladimir Putin, to the UAE, showed that major commodities between the two sides were diamonds, gold, phones, cigars and vehicle spare parts.

"Dubai trade with Russia is gaining more weight and momentum reflecting a developed and healthy economic ties between the two countries," said Ahmed Mahboob Musabih, Director General of Dubai Customs.

"We work hard to ensure best services and facilities are provided to Russian businesses and companies. There are more than 3,000 Russian companies in the country and we go above and beyond to support mutual trade in fulfilment of the directives and wise vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai. We look forward to more cooperation with Russian diplomatic missions and companies in the forthcoming period, especially with the advent of EXPO 2020."

Musabih pointed out that the Russian economy is growing fast and this unleashes a host of investment opportunities that will benefit the peoples of the two countries.