Ras Al Khaimah Economic Zone (RAKEZ) has signed a strategic Memorandum of Understanding (MoU) with the Russia-UAE Business Council (RUBC) to strengthen cooperation.
Furthermore, the MoU intends to expand bilateral trade and support long-term partnerships between businesses in Russia and the UAE.
The agreement was formalized on the sidelines of the Russia-UAE Business Forum, in the presence of the UAE Minister of Economy, HE Abdullah bin Touq Al Marri, and the Russian Minister of Industry and Trade, HE Anton Alikhanov.
The MoU was signed by RAKEZ Group CEO Ramy Jallad and RUBC Chairman Alexander Vinokurov, creating a structured framework to assist RUBC members and RAKEZ clients in discovering new commercial opportunities.
The partnership focuses on increasing and diversifying bilateral trade, with particular emphasis on non-oil goods and services, while positioning RAKEZ as a competitive platform for Russian and Emirati companies looking to support two-way trade flows and access third markets.
Ramy Jallad Group CEO – RAKEZ
“This MoU reflects the growing depth of economic engagement between the UAE and Russia and our shared focus on translating opportunity into tangible business outcomes. RAKEZ provides an integrated ecosystem that supports efficient market entry, scalable operations, and access to key regional and global trade corridors. Alongside our participation in the Russia-UAE Business Forum, this partnership with the Russia-UAE Business Council creates a practical channel to support companies as they expand trade, build resilient supply chains, and develop long-term collaborations.”
As part of the Forum, Jallad participated in a panel discussion on the future of trade and logistics, where he highlighted how Russian companies can benefit from setting up in Ras Al Khaimah, and outlined the specific measures RAKEZ has in place to support investors entering and expanding within the UAE market.
RAKEZ: A Key Platform for Russian and Emirati Companies
RAKEZ is currently home to around 1,000 Russian companies operating across management and consultancy, real estate, trading, holding structures, and digital and IT services. With trade between the UAE and Russia expected to exceed $10 billion by the end of 2025, the MoU opens further opportunities for collaboration across sectors, including manufacturing, logistics, agriculture, digital technologies, healthcare, and investments.
