The United Arab Emirates and the Russian Federation have signed a landmark Trade in Services and Investment Agreement (TISIA), aimed at deepening economic cooperation and expanding market access between the two nations.
The agreement was finalized during the official visit of UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan to Moscow, where he met with Russian President Vladimir Putin to discuss strengthening bilateral relations across key sectors.
TISIA is expected to boost foreign direct investment (FDI) flows and open new opportunities for service providers in both countries.
According to the statement, it will complement the UAE’s existing Economic Partnership Agreement (EPA) with the Eurasian Economic Union, which covers goods, by providing a bilateral framework with Russia focused on services and investment.
The UAE and Russia share a longstanding and multifaceted relationship, marked by strong diplomatic, economic, and strategic ties. Over the years, the two countries have deepened cooperation across key sectors such as energy, trade, investment, space exploration, and advanced technology.
The Comprehensive Economic Partnership Agreement (CEPA) program is a cornerstone of the UAE’s foreign trade strategy, supporting the nation’s goal of boosting non-oil foreign trade to $1.1 trillion by 2031.
In 2024 alone, CEPAs played a significant role in driving the UAE’s record non-oil trade volume of $816 billion, representing a 14.6 percent increase compared to the previous year. Designed to accelerate economic growth, the CEPA program expands global market access for UAE businesses, particularly in high-growth economies, reinforcing the country’s position as a major hub for international trade.
