Russia Expects EAEU-UAE Economic Partnership Agreement to Enter Force by Year-End

MOSCOW, May 26. /TASS/. Russia expects the economic partnership agreement between the Eurasian Economic Union (EAEU) and the United Arab Emirates (UAE) to enter into force by the end of this year, Russian First Deputy Prime Minister Denis Manturov said during a working visit to the country. "Trade and economic ties are expanding successfully. Trade turnover between our countries increased by 50% last year, reaching an all-time high of $14 billion. We expect the economic partnership agreement between the EAEU and the United Arab Emirates to enter into force by the end of this year, which will contribute to improving the quality of trade and achieving a greater balance," Manturov said, his secretariat said in a statement. As noted in the statement, this will be an important addition to the Russian-UAE agreements signed last year on free trade in services and the elimination of double taxation. "Recently, Russian President Vladimir Putin signed laws ratifying the economic partnership agreement between the EAEU and the UAE, as well as the Russian-UAE intergovernmental agreement on trade in services and investment," the statement said.