Crises ‘create opportunities’

The UAE and Russia on Tuesday vowed to develop political, economic and commercial ties as well as investment activities for the benefit of both nations and people’s.

Vice President and Prime Minister of the UAE and Ruler of Dubai, Shaikh Mohammad Bin Rashid Al Maktoum, held talks on Tuesday with Russian Prime Minister Vladimir Putin on bilateral relations and ways to expand avenues of cooperation in all fields.

Putin described Shaikh Mohammad’s visit to Russia as “successful at all scales”, referring to the talks between the Vice President and Russian President Dmitry Medvedev.

“We are confident that Shaikh Mohammad’s visit will contribute to developing friendship and cooperation between both our countries, yet trade volume is still below the required level,” Putin said.

He said “our relations develop constantly at all political, economic and commercial levels,” as both parties have the foundation and the will to further develop cooperation in energy, tourism and technology, as well as universal space and investment.

Putin said there are many activities and investment projects between the UAE and Russia, especially in tourism, which is based in the UAE, and both sides are working to develop these relations, especially in the private sector. In his response to Putin’s statement, Shaikh Mohammad said the friendship relations between the two countries and peoples are historic and strategic at the same time. He said his talks with the Russian president and officials were fruitful and would reflect positively on both countries.

Following his meeting with Putin, the Vice President met businessmen who accompanied him on the visit and spoke about the global financial crisis and its effects on the UAE’s economy and development.

“The impact of the crisis on the UAE is not comparable with the rest of the countries.”

WAM