Putin hails UAE as 'a driver of economic growth' before President Sheikh Mohamed's visit

President Sheikh Mohamed begins an official visit to Russia on Monday

Russia's President Vladimir Putin meets journalists from the Brics member countries in Moscow. AFP

Russian President Vladimir Putin described the UAE as being among the world's “drivers of economic growth”, in the lead-up to an official visit by President Sheikh Mohamed on Monday.

Sheikh Mohamed is set to hold talks with Mr Putin, where the two leaders will review efforts to strengthen ties in various sectors, including the economy, trade, investment and energy, state news agency Wam reported.

Their discussions will be held as part of the strategic partnership between the countries. Sheikh Mohamed and Mr Putin are also set to explore regional and international issues of mutual concern.

Speaking ahead of the visit on Friday, Mr Putin held a media roundtable in Moscow in which he discussed the Brics group, before a summit which is due to be held in the Russian city of Kazan from October 22 to 24.

The Brics, an intergovernmental group of “emerging economies” including Brazil, China, Egypt, Ethiopia, India, Iran, Russia, South Africa and the UAE, will generate most of the world’s economic growth in the coming years, Mr Putin predicted.

"The countries in our association are essentially the drivers of global economic growth,” he said. “In the foreseeable future, Brics will generate the main increase in global GDP.”

"The economic growth of Brics members will increasingly depend less on external influence or interference. This is essentially economic sovereignty," he added.

A historic visit

After meeting Mr Putin on Monday, Sheikh Mohamed will remain in Russia to take part in the 16th Brics summit. It will be the UAE’s first participation as a member of the organisation.

The UAE, Saudi Arabia, Egypt, Iran and Ethiopia were invited to be part of an expanded bloc, initially made up of Brazil, Russia, India, China and South Africa, in August 2023 before joining on January 1.

The body was formed in 2009 to serve and promote the interests of the world's leading developing nations. It is viewed by some as an alternative to the firmly established G7 group of developed countries.

Deep-rooted ties

Sheikh Mohamed's visit to Russia is in support of efforts to bolster long-standing links between the countries.

Mr Putin met Sheikh Mohamed during a state visit to the Emirates in December. During a meeting at Qasr Al Watan in Abu Dhabi, they discussed issues of mutual interest, including the conflicts in Gaza and Ukraine.

The two men also met in St Petersburg in June last year as part of Sheikh Mohamed's working visit to Russia, which coincided with the St Petersburg International Economic Forum.

The UAE is Russia’s largest Gulf trading partner, accounting for 55 per cent of total Russian-Gulf trade. Trade between the countries continues to grow, reaching nearly $10 billion, Russian Foreign Minister Sergey Lavrov said last September.