ABU DHABI, 7th April 2025 (WAM) -- The Russian economy is experiencing stable growth amid global economic transformations, with a growth rate of 4.1 percent over the past two years, according to Russian Minister of Economic Development Maxim Reshetnikov.

In statements to the Emirates News Agency (WAM) on the sidelines of the 14th edition of AIM Congress, which kicked off today at the Abu Dhabi National Exhibition Centre (ADNEC) with the participation of over 20,000 delegates from 180 countries, Reshetnikov noted that Russia, amid the shift from globalisation to regionalism, is strengthening its partnerships with countries of the Global South and maintaining its position as a global economic power.

"Russia ranks among the world's top four economies in terms of purchasing power parity," he added.

Despite external challenges, he emphasised that Russia remains an open and competitive economy. "Foreign trade continues to play a key role alongside the growth of the domestic market and increasing investment activity."

Reshetnikov underscored the importance of international forums like the AIM Congress as vital platforms for enhancing economic ties and promoting a pragmatic, depoliticised agenda. He noted that four Russian regions presented investment projects and development proposals during this year's summit.

The minister highlighted that trade between Russia and the UAE spans agricultural products, engineering industries, precious metals, and gemstones. "The services sector is also seeing significant growth, particularly in tourism, transport, logistics, and financial services."

He explained that Russian businesses are continuing to establish effective channels of cooperation with partners in the UAE, especially in logistics. "Key areas of collaboration include the UAE's involvement in developing the International North-South Transport Corridor and the Northern Sea Route."

Reshetnikov also noted that the UAE is a global leader in developing industrial zones and executing complex international projects with investors from around the world. He attributed this success to the UAE's strategic geographic location, institutional flexibility, culture of tolerance, ability to integrate diverse expertise, and its long-term partnership approach. "Russia views these zones as promising platforms for launching industrial projects and attracting investment," he noted.

The minister added that key areas of cooperation also include digital transformation, artificial intelligence, cybersecurity, and data processing and storage. "Russian companies are expanding their presence in the UAE's advanced tech sectors. Additionally, energy cooperation is gaining momentum-from green energy to the peaceful use of nuclear power."

Reshetnikov also highlighted the growth in tourism between the two countries, stating that around 2 million Russian tourists visited the UAE in 2023. "More than 300 weekly flights connect the two nations. The number of Emirati tourists visiting Russia also increased by 50 percent, reaching 86,000 visitors, with growing interest in destinations beyond Moscow and St. Petersburg."

In conclusion, the minister described Russia's participation in the AIM Congress as strategically significant, stressing that the summit is one of the key platforms for strengthening dialogue with the Global South and advancing international economic cooperation.