UAE participates in St. Petersburg International Economic Forum

UAE Minister of State for Artificial Intelligence, Digital Economy, and Teleworking Applications Omar bin Sultan Al Olama is participating in the 25th St. Petersburg International Economic Forum (SPIEF) from 15th-18th June, 2022. In his address, Al Olama highlighted the depth and breadth of UAE-Russia relations, the importance of strengthening the ties towards economic cooperation in a way that achieves the development goals of the two countries and ensures a prosperous future for their peoples.

In the course of his participation, the Minister signed an agreement of intent to arrange for UAE participation at the SPIEF’s next edition in 2023 as the forum’s guest of honor, noting that the forum helps open up broader opportunities for bilateral trade, development, and investment. Al Olama met on the sidelines of the forum with a number of Russian ministers and officials, as well as delegations from the participating countries. They discussed the prospects of bolstering economic cooperation over the next period.

The UAE and the Eurasian Economic Commission, the permanent body of the Eurasian Economic Union, also signed an MoU on enhancing trade and economic cooperation between EEU member states and the UAE. Cooperation areas include customs, financial markets, transportation, the agro-industrial sector, industry, intellectual property, information and communication technology, as well as digital transformation of the economy.