UAE and Russia to sign investment agreement

May 22nd, 2008 - 11:37 am ICT by admin  

Moscow, May 22 (IANS) The United Arab Emirates (UAE) and Russia plan to sign an agreement to encourage trade and flow of investment between the two countries, WAM news agency reported Thursday. “The focus is on avoidance of double taxation and encouragement and protection of investment,” Abdul Aziz Al Ghurair, speaker of UAE Federal National Council, said here Wednesday.

Al Ghurair, who is on a official visit to Russia, made the comments after holding talks with Boris Gryzlov, speaker of State Duma, the Russian parliament.

He added that the UAE and Russian negotiators had reached an understanding on various issues concerning bilateral commercial, economic and investment cooperation.

Al Ghurair said the two sides also underlined the need for setting up a joint parliamentary friendship committee to boost links between the parliaments of two countries.

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