Signed recently by His Highness Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and Russian President Vladimir Putin, the Declaration of the strategic partnership culminated years of deep cooperation.
“The UAE has been a close partner for us for years in the Middle East, and today we will sign the Strategic Partnership Declaration, another step in strengthening our relations,” said President Putin. The declaration came on the backdrop of the continuous development in bilateral relations in terms of capabilities and resources.
The UAE is the top Arab joint investor with Russia. 2017 figures show that the volume of non-oil bilateral trade amounted to an annual USD 3 billions, with around 18 billions worth of joint investments in petrochemicals, manufacturing, agricultural investment and advanced technology. More than 3000 Russian companies are operating in the Gulf country. Mubadala Group, a UAE giant, owns 44% stocks in Gazpromneft-Vostok, in charge of proven and potential oil reserves in their fields of about 300 million barrels.
In tourism, some one million Russian tourists visited the UAE in 2017.
Trade exchange has doubled in recent years. We can also expect major leaps within the next few years under the strategic partnership agreement.
A keen eye on common interests can guarantee the success of any strategic cooperation. The UAE and Russia converge on vital issues, including eradicating global terrorism. In their meeting, the Russian President and the Crown Prince of Abu Dhabi called on to build a broad international coalition against terrorism.
The strategic partnership between the two countries spans through the political, security, trade, economic and cultural spheres, but can also be seen in humanitarian, scientific, technological and tourism sectors. Actual and prospective aspects of strategic partnership reveal the strong will of the two leaders to provide new opportunities and more room for maneuver in the short run.
A rising economy and influential actor, the UAE eyes cooperation with the world’s major influential countries, particularly those with a historical presence in the Middle East and the Gulf region. Russia is a determinant factor in international stability equations, so, strong cooperation with it would be useful.
Russia is a major player in Syria and has returned strongly to the Middle East through its long-time allies there. Russia is closely cooperating with and is commonly seen as an ally to the Iranian regime. But it’s not on an ideological basis. The Russian president is quite realist and looks at the interests of his country and its people. We have seen how tensions with Turkey were defused, and the calm answer to measures taken by the EU towards Russia in the after the alleged poisoning of the ex-Russian agent Sergei Skripal.
It’s the amount of interests that has the final say in Russia’s relations with any regional or international actor.
The UAE approach in international relations will bear fruit, bringing some more stability to the Gulf region and the Middle East.
Russia is not only a strategic player in the politics, security and military affairs, but is also a strategic player in the economy. It has influence in the global oil trade. This complex network of shared interests will undoubtedly lead the two countries to more cooperation and therefore more chances to enhance regional stability and global security.
