Putin will discuss bilateral cooperation and situation in Middle East with Crown Prince of Abu Dhabi on August 25

MOSCOW, August 24. /TASS/. Russian President Vladimir Putin will meet with the crown Prince of Abu Dhabi, deputy Supreme Commander of the UAE (United Arab Emirates) Armed Forces Mohammed bin Zayed Al Nahyan on August 25. The Kremlin press service said that the sides "plan to discuss pressing issues of bilateral cooperation, in particular in investment and energy sphere, and exchange opinions on problems of securing stability and security in the Middle East and North Africa." Putin will meet with the Crown Prince on the sidelines of MAKS 2015 International Aviation and Space Salon The press service noted that this will be the sixth meeting between Putin and Mohammed bin Zayed Al Nahyan. "It is expected that the central topic for discussion between Putin and Al Nahyan will be development of trade and economic ties. In 2014, the trade volume has decreased by 20 percent and stood at $2 billion. This year, the fall continued - by 43 percent over the first six months (to $566.1 million, in 2014 - $992.6 million). The reasons of negative dynamics are currency fluctuations, as well as falling demand in UAE for grains and precious metals delivered from Russia," the Kremlin said. "Special attention will be paid to cooperation in the energy sphere," the press service said adding that Russia and UAE closely coordinate their work in the framework of Forum of gas exporting countries, where the two countries have close positions on ensuring energy security and predictability of global gas market. Rosneft and UAE’s company Crescent Petroleum are implementing a large-scale project on developing the concession area in the Emirate of Sharjah (Rosneft holds 49 percent of shares). Rosneft is currently in talks with another Emirati company Mubadala Petroleum on developing two deposits in Eastern Siberia - Strednebotuobimskoye and Verkhnechonskoye. "There are also great prospects in cooperation in the sphere of peaceful atom," the press service stressed. Moscow considers cooperation with UAE in the investment sphere very promising. "Creating necessary legislative basis for mutually beneficial allocation of financial resources played a big role in strengthening cooperation in this direction," the Kremlin said reminding that in 2013, an intergovernmental agreement entered into force on promoting and protecting investment along with an agreement on taxing investment earnings. The sides will also discuss humanitarian cooperation. "In 2014, tourist flow from Russia to the Emirates decreased and stood at 500,000 people [in 2013 - 803,000 people]. The most popular destinations are Dubai, Sharjah and Abu Dhabi," the Kremlin said. Read more