Russian exports to the UAE grew by 80% in 2021
Russian exports to the UAE in 2021 grew by 80%, primarily the supply of high-tech products, Russian trade representative in the UAE Andrei Terekhin said in an interview with RIA Novosti.
“Russia in trade and economic relations with the UAE is an obvious net exporter (in percentage terms, our exports to the Emirates are significantly ahead of imports), and at the same time, Russian export supplies continue to grow very dynamically from year to year. In 2021, Russian exports show an increase of more than 80%, and, what should be especially noted, high-tech, innovative products, highly processed products with high added value are taking an increasing place in the structure of Russian supplies to the UAE, “Terekhin said.
According to the sales representative, the dynamics are fully consistent with the Russian strategy of expanding non-primary exports, while traditional commodity items also demonstrate stable positive dynamics.
“According to customs statistics for 9 months alone, the volume of mutual Russian-Emirates trade amounted to $ 3.7 billion, which exceeds the annual rate of 2020 as a whole,” added Terekhin.
SUPPLIES OF SATELLITE V
According to Terekhin, the UAE ranks third among the importers of the Russian Sputnik V vaccine. He noted that in the future there is an increase in the supply of Russian pharmaceutical products to the Emirates.
“It is the UAE that has become the country in which the Sputnik V vaccine is not only recognized, but also regularly supplied, and the country ranks third among the importers of the Russian vaccine in the world,” he said.
According to the trade representative, this experience should give impetus to the supply of other products of actively developing Russian pharmaceuticals, “despite all the difficulties associated with the registration of medicines and the passage of procedures for opening the UAE market for foreign pharmaceutical products.”
LOCATION OF PROCESSING PLANTS
Terekhin said that Russia is considering the UAE as a platform for the localization of Russian processing enterprises in order to bring them closer to the markets for final consumption of manufactured products.
“The Emirates are also of significant interest as a possible site for the localization of Russian processing enterprises in order to bring them closer to the markets for final consumption of manufactured products. In this regard, it is worth noting the positive experience of Metalloinvest Management Company LLC in the creation and successful operation in the Free Economic Zone of the Emirate of Sharjah of an enterprise for the production of steel reinforcement with a capacity of 1 million tons per year from supplied metal raw materials of Russian production, “Terekhin said.
According to the sales representative, the example of “Metalloinvest” can be successfully replicated on other types of products of various industries, such as metallurgy, chemical production, agriculture and food industry.
“Russian manufacturers of agricultural products could supply semi-finished products or raw materials with the localization of their deep processing at their own enterprises in the UAE with subsequent sale both within the country and in the markets of the countries of the Gulf region and East Africa, with which the Emirates have free trade zones, which allows products of Emirati origin to be delivered without taxes, customs duties, and other tariff and non-tariff restrictions, “Terekhin added.
INVESTMENT IN THE NORTHERN SEA ROUTE
The trade representative also noted that the UAE is interested in investing in the project of the Northern Sea Route together with Rosatom, the issue is at the stage of development.
“One of the most striking examples of recent times was the interest of the Emirates side, represented by DPWorld, in significant investments in the Northern Sea Route project within the framework of cooperation with the state corporation Rosatom. It would seem, where is the Emirates and where is the Northern Sea Route? But from the point of view of a business approach, the project seems to them extremely interesting and they are very actively involved in this issue. The issue is at the stage of elaboration and approval, but in any case the precedent deserves special attention, “Terekhin said.
According to the agency’s interlocutor, Russian-UAE cooperation and interaction in such areas as the aviation and automotive industries, transport engineering and the IT sector are actively developing.
“The experience of Russia in face recognition in transport, in particular in the Moscow metro, is of great interest in the Emirates. This project is currently being seriously studied by our IT industry, the successful implementation of which could become a significant step in Russian-UAE technological cooperation, “added Terekhin.
Source: 1prime.ru