RAKEZ signs strategic MoU with Russia-UAE Business Council to strengthen bilateral trade and investment cooperation

Ras Al Khaimah Economic Zone (RAKEZ) has signed a strategic Memorandum of Understanding (MoU) with the Russia-UAE Business Council (RUBC) to strengthen cooperation, expand bilateral trade and support long-term partnerships between businesses in Russia and the UAE.

The agreement was formalised on the sidelines of the Russia-UAE Business Forum, in the presence of UAE Minister of Economy, H.E. Abdullah bin Touq Al Marri, and Russian Minister of Industry and Trade, H.E. Anton Alikhanov.

RAKEZ Group CEO Ramy Jallad and RUBC Chairman Alexander Vinokurov signed the MoU, establishing a structured framework to support the Council members and RAKEZ clients in exploring new commercial opportunities. The partnership focuses on increasing and diversifying bilateral trade, with particular emphasis on non-oil goods and services, while positioning RAKEZ as a competitive platform for Russian and Emirati companies looking to support two-way trade flows and access third markets.

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. Alongside our participation in the Russia-UAE Business Forum, this partnership with the Russia-UAE Business Council creates a practical channel to support companies as they expand trade, build resilient supply chains and develop long-term collaborations.”

As part of the Forum, Jallad participated in a panel discussion on the future of trade and logistics, where he highlighted how Russian companies can benefit from setting up in Ras Al Khaimah, and outlined the specific measures RAKEZ has in place to support investors entering and expanding within the UAE market.

RAKEZ is currently home to around 1,000 Russian companies operating across management and consultancy, real estate, trading, holding structures, and digital and IT services. With trade between the UAE and Russia expected to exceed USD 10 billion by the end of 2025, the MoU opens further opportunities for collaboration across sectors, including manufacturing, logistics, agriculture, digital technologies, healthcare and investments.

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