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Sat 19 Oct 2019 12:15 AM

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Dubai's trade with Russia grows 25% to $2.5bn in 2018

Dubai Customs figures shows diamonds, gold, phones, cigars and vehicle spare parts were most traded commodities

Dubai's trade with Russia grows 25% to $2.5bn in 2018
The statistics were released in conjunction with the landmark visit of the Russian President Vladimir Putin to the UAE.

Dubai's external trade with Russia has increased by 25 percent to AED9.21 billion ($2.5 billion) in 2018, according to new official figures released by Dubai Customs.

The figures show a 67 percent growth in two years from 2016 to 2018 while trade with Russia in the first six months of 2019 reached AED4.55 billion.

The statistics were released in conjunction with the landmark visit of the Russian President Vladimir Putin to the UAE, and showed that major commodities between the two countries were diamonds, gold, phones, cigars and vehicle spare parts.

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“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."