RAKEZ And RUBC Sign MoU To Expand UAE-Russia Bilateral Trade

Ras Al Khaimah Economic Zone (RAKEZ) has entered a strategic Memorandum of Understanding with the Russia-UAE Business Council (RUBC), creating a formal partnership to deepen UAE-Russia economic ties, expand non-oil trade flows and encourage long-term business cooperation across multiple sectors and markets.

The new agreement aims to make RAKEZ a preferred base for Russian and Emirati firms seeking to strengthen two-way trade and reach third-country markets. It also targets wider sector coverage, with a particular emphasis on growing and diversifying non-oil goods and services between the two countries.

The MoU was signed during the Russia-UAE Business Forum, attended by Abdulla bin Touq Al Marri, Minister of Economy, and Anton Alikhanov, Russian Minister of Industry and Trade. RAKEZ Group CEO Ramy Jallad and RUBC Chairman Alexander Vinokurov formalised the partnership on behalf of their respective organisations.

Ramy Jallad explained the broader context of this move during a panel on trade and logistics at the Forum. Jallad outlined how Russian companies can benefit from establishing operations in Ras Al Khaimah and described the investor support RAKEZ offers to help companies enter and grow in the UAE market.

The MoU sets out a structured framework to assist RUBC members and RAKEZ clients in identifying and developing new commercial opportunities. It formalises collaboration tools designed to make market entry more efficient and to scale operations across regional and global trade routes using RAKEZ’s integrated ecosystem.

Commenting on the agreement, Jallad said: "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," Jallad said.

RAKEZ currently hosts about 1,000 Russian businesses involved in management and consultancy, real estate, trading activities, holding structures, and digital and IT services. With UAE-Russia trade projected to surpass US$10 billion by the end of 2025, the MoU is expected to spur cooperation in manufacturing, logistics, agriculture, digital technologies, healthcare and investment-related projects.

With inputs from WAM