Omar bin Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy, and Teleworking Applications, is participating in the 25th session of the St. Petersburg International Economic Forum (SPIEF), running from 15th-18th June, 2022.

Addressing the forum, Al Olama highlighted the depth and width of the UAE-Russia relations and the importance of strengthening ties towards more joint cooperation in the economic fields, in a way that achieves the developmental goals of the two countries and ensures a prosperous future for their peoples.

During his participation, the Minister signed an agreement of intent to organise UAE’s participation as the guest of honor at the forum’s next edition in 2023, noting that the SPIEF helps open up wider trade development and investment partnerships between the two nations.

On the sidelines of the forum, Al Olama met with a number of Russian ministers and officials, in addition to delegations from the participating countries, to review the prospects of strengthening joint economic cooperation over the next period.

The UAE and the Eurasian Economic Commission, in its capacity as the permanent body of the Eurasian Economic Union, also signed an MoU on developing trade and economic cooperation between the Eurasian Economic Union member states and the UAE towards achieving higher levels of trade exchanges and exploring paths to ease trade development.

The areas of cooperation include customs, financial markets, transportation, agro-industrial sector, industry, intellectual property, information and communication technology, in addition to digital transformation of the economy.