Staff Report
The United Arab Emirates, represented by its Ministry of Finance, hosted the first UAE-Russia Strategic Financial Dialogue in Abu Dhabi on February 17. The high-level forum aimed to deepen financial and economic cooperation between the two nations, focusing on investment, taxation, and budgetary planning.
Enhancing Bilateral Financial Collaboration
The UAE delegation, led by Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs, engaged with senior Russian officials, including Russia’s Minister of Finance, Anton Siluanov. The discussions underscored the commitment of both nations to fostering financial integration and leveraging best practices in economic governance.
Al Hussaini highlighted the UAE’s strategic efforts to position itself as a global financial hub through partnerships with major economies. “The UAE-Russia partnership exemplifies sustainable economic cooperation, reinforcing mutual investments, financial collaboration, and modern budgeting frameworks,” he stated.
Siluanov echoed this sentiment, emphasizing the importance of strengthening financial ties. “This dialogue marks a significant step in enhancing cooperation between our two nations. We are committed to advancing digital financial solutions, refining budgeting strategies, and expanding public-private partnerships,” he noted.
Agreement to Prevent Double Taxation
A key outcome of the forum was the signing of a Double Taxation Avoidance Agreement, aimed at improving trade flows, attracting investment, and fostering a transparent and competitive tax environment. The agreement is expected to boost bilateral commerce and create a more favorable business landscape for companies operating between the two countries.
Strategic Financial Discussions
The forum also featured four panel discussions covering essential topics such as budget preparation, the integration of advanced technologies in financial planning, public-private partnerships, and international tax policies. Experts explored emerging trends in global taxation, regulatory developments, and the role of multilateral financial cooperation in shaping economic resilience.
By hosting this inaugural dialogue, the UAE and Russia reaffirmed their commitment to strengthening financial and economic ties, setting the stage for continued collaboration in key financial sectors.
