Dubai’s exports to Russia amounted to AED8.24 billion in 2014, while re-exports reached AED884 million, according to a senior official.
The emirate’s exports to Russia increased by 52 per cent between 2012 and 2014, says Mohammed Ali Al Kamali, deputy chief executive officer of the Dubai Export Development Corporation (DEDC).
Between 2010 and 2014, the UAE’s exports to Russia surged by 68 per cent on average, signalling a considerable growth momentum that, if sustained, would make Russia one of the top ten destinations of UAE exports, Al Kamali adds in comments published by Al Bayan.
He also notes that the Moscow office of DEDC, which was opened earlier this year, has received 46 requests to export goods to Russia.
Top exports and re-exports of the UAE to Russia include machinery, equipment, coffee, tea, spices, iron, steel, plastic products and chemicals.
The food industry in Russia provides abundant opportunities for the UAE food manufacturers and producers, with roughly ten per cent of Russia’s tea consumption coming from the UAE, according to Al Kamali.
The country’s tea exports to Russia soared by 105 per cent between 2010 and 2014, while exports of chocolate and cacao products shot up by 376 per cent during the same period.