As Many As 3.5 Thousand Russian Companies Operate in the UAE
As Many As 3.5 Thousand Russian Companies Operate in the UAE
15 May
Trade turnover between the Russian Federation and the United Arab Emirates totalled $11 billion in 2024. This was announced by Sergey Gorkov, Chairman of the Russian-Emirati Business Council, at the XVI International Economic Forum “Russia – Islamic World: KazanForum”. The growth of parallel trade has been noted in the last five years.
According to Gorkov, all sectors are actively progressing forward, with the exception of minerals. The trend that has emerged recently is a large volume of investments, both Russian and Emirati.
“The services have grown five times recently. Add to that a large number of companies. If we were talking about hundreds of enterprises operating in the UAE market in 2020, now this number exceeds 3,500. In general, the structure is quite diversified. It includes petroleum products: fuel and oil supplies, these are already remodelling. Agriculture, agricultural products have grown quite a bit. There are a lot of development projects. If you go to UAE shops, you will see products of Russian confectioners, Miratorg. Clothing manufacturers are very prolific. For example: Lime, 12 STOREEZ have conquered the Emirati market and opened many shops. This pertains to IT products. The marketplace that was formed three years ago, mainly for products of the beauty industry, is showing good results,” says Gorkov.
There was an upsurge of Russian business across the country in 2022. Smaller companies were opening in the UAE; now the market is levelling off: those of value are staying and continue to expand.
“I think we will see more sustained growth in the coming years. We hope an economic partnership agreement will be signed between the Emirates and the EAEU in the near future. This will provide additional opportunities for Russian companies to operate in the UAE, and for Emirati companies to carry on in Russia. I expect that quantity will turn into quality in terms of investment and technology,” notes Gorkov.
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The International Economic Forum “Russia – Islamic World: KazanForum”, which was granted federal status in 2022 by the Decree of the President of the Russian Federation, is being held for the 16th time on 14 16 May 2025. The Programme includes 200 events such as a Congress of Ministers of Transport within the Islamic countries; a Congress of Ministers of Culture within the Islamic countries; a Congress of Prosecutors General within the Islamic countries; a Congress of Auditors within the Islamic countries; the world’s largest conference on Islamic finance; conferences on the halal industry; a forum of Chambers of Commerce and Industry within the Islamic countries; as well as international exhibitions on economy, trade, and real estate held over 40 thousand sq. m. Representatives from 103 countries registered to participate in 2025. In 2024, the Event gathered more than 20 thousand participants from 87 countries, 87 constituent subjects of the Russian Federation, along with more than 40 diplomatic missions.
According to Gorkov, all sectors are actively progressing forward, with the exception of minerals. The trend that has emerged recently is a large volume of investments, both Russian and Emirati.
“The services have grown five times recently. Add to that a large number of companies. If we were talking about hundreds of enterprises operating in the UAE market in 2020, now this number exceeds 3,500. In general, the structure is quite diversified. It includes petroleum products: fuel and oil supplies, these are already remodelling. Agriculture, agricultural products have grown quite a bit. There are a lot of development projects. If you go to UAE shops, you will see products of Russian confectioners, Miratorg. Clothing manufacturers are very prolific. For example: Lime, 12 STOREEZ have conquered the Emirati market and opened many shops. This pertains to IT products. The marketplace that was formed three years ago, mainly for products of the beauty industry, is showing good results,” says Gorkov.
There was an upsurge of Russian business across the country in 2022. Smaller companies were opening in the UAE; now the market is levelling off: those of value are staying and continue to expand.
“I think we will see more sustained growth in the coming years. We hope an economic partnership agreement will be signed between the Emirates and the EAEU in the near future. This will provide additional opportunities for Russian companies to operate in the UAE, and for Emirati companies to carry on in Russia. I expect that quantity will turn into quality in terms of investment and technology,” notes Gorkov.
***
The International Economic Forum “Russia – Islamic World: KazanForum”, which was granted federal status in 2022 by the Decree of the President of the Russian Federation, is being held for the 16th time on 14 16 May 2025. The Programme includes 200 events such as a Congress of Ministers of Transport within the Islamic countries; a Congress of Ministers of Culture within the Islamic countries; a Congress of Prosecutors General within the Islamic countries; a Congress of Auditors within the Islamic countries; the world’s largest conference on Islamic finance; conferences on the halal industry; a forum of Chambers of Commerce and Industry within the Islamic countries; as well as international exhibitions on economy, trade, and real estate held over 40 thousand sq. m. Representatives from 103 countries registered to participate in 2025. In 2024, the Event gathered more than 20 thousand participants from 87 countries, 87 constituent subjects of the Russian Federation, along with more than 40 diplomatic missions.
