Mohammed, Putin discuss cooperation

General Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and Vladimir Putin, the President of Russia, have discussed bilateral relations between the UAE and Russia, and ways of supporting and promoting them in light of their outstanding ties of friendship and common interests.

The discussions took place as President Putin received Sheikh Mohammed bin Zayed Al Nahyan at Novo-Ogaryovo, the state residence of the Russian President.

President Putin welcomed the Crown Prince and expressed his pleasure at meeting him, and discussing with him matters and issues of common interest, the most important of which are joint cooperation in the framework of the growing bilateral relations between the two countries.

During the meeting, Sheikh Mohammed conveyed to President Putin greetings from President His Highness Sheikh Khalifa bin Zayed Al Nahyan and his best wishes for further progress and prosperity for the people of Russia.

At the meeting, which was attended by Sheikh Abdullah bin Zayed Al Nahyan, UAE Foreign Minister, the two sides discussed the avenues of existing cooperation between the two countries, and the importance of enhancing and promoting them in order to fulfill the aspirations of the two countries and their peoples.

The two sides expressed satisfaction with the advanced level of their friendship relations, their aspirations for further constructive cooperation and coordination in the spheres that serve the interests of both countries, the expansion and diversification of economic partnerships and investment opportunities, the exchange of visits by officials of both countries, as well as benefiting from the exchange of experiences and expertise to develop the economic, investment, industrial and energy sectors.

General Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces affirmed the UAE's interest in promoting and enhancing bilateral relations with Russia within the framework of the ties of friendship, cooperation, mutual respect and the common interests and aspirations for a better future for these relations at all levels.

At the meeting, views and opinions on the current developments in the Arabian Gulf region and the Middle East were also discussed.

Also present at the meeting were Khaldoon Khalifa Al Mubarak, Chairman of Abu Dhabi Executive Affairs Authority (EAA), Hamad Mohammed Al Hur Al Suwaidi, Chairman of the Abu Dhabi Finance Department, Major General Eisa Saif Mohammed Al Mazrouie, Deputy Chief of Staff of the UAE Armed Forces, Mohammed Mubarak Al Mazrouie, Under-Secretary of the Court of the Crown Prince of Abu Dhabi, and Omar Ghobash, the UAE Ambassador to Russia.

Following the meeting, President Vladimir Putin held a lunch banquet in honour of His Highness Sheikh Mohammed bin Zayed Al Nahyan and his accompanying delegation.

UAE to invest $5 billion in Russian infrastructure development

The UAE and Russia today at the headquarters of the Kremlin signed a Memorandum of a Intent to establish a joint investment partnership between the Department of Finance (DoF) in Abu Dhabi and the Russian Direct Investment Fund (RDIF) for investment in Russian infrastructure projects in which the Government of Abu Dhabi, represented by the Department of Finance, provides an investment of up to $5 billion.

This came within the framework of the visit of General Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces.

The Memorandum was signed by Hamad Mohammed Al Hur Al Suwaidi, Chairman of Abu Dhabi Finance Department representing the Abu Dhabi Government, and Kirill Dmitriev, Chief Executive officer, Russian Direct Investment Fund (RDIF) representing the Russian side.

Speaking on the occasion, Al Suwaidi said: "The signing of this Memorandum and our commitment to an investment of up to USD 5 billion reflects our belief in the returns that can be derived from this investment in the Russian infrastructure, and we expect a very fruitful partnership through the exchange of expertise with the Russian Direct Investment Fund (RDIF).

The joint project between the Department of Finance in Abu Dhabi and the Russian Direct Investment Fund aims to open new avenues for joint cooperation that contributes to the strengthening of bilateral relations between the two countries by investing in the infrastructure of Russia on a project by project basis, in addition to obtaining a rewarding return on invested capital, enhancing the growth of two-way investment and promoting Emirati-Russian cooperation and identifying other investment opportunities for both parties.

The two parties will agree on the structure and governance of the joint project and other conditions in the final agreements that the two parties will conclude before the end of the current year.
 

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