UAE is one of Russia's very close and promising partners: Vladimir Putin

(WAM) -- Russian President Vladimir Putin sees the UAE as one of Russia's very "close and promising partners," saying that the partnership is "vigorously developing in all areas."

He also referred to the ‘Declaration of Strategic Partnership’ signed between the UAE and Russia in June 2018, saying, "The signing of this document was not a coincidence, it demonstrated the quality and nature of relations between the UAE and the Russian Federation."

"Of all the Gulf countries, we [Russia and UAE] have the highest level of trade, US$1.7 billion, but of course, this is not enough, we are well aware of that, so currently, we are working with the UAE’s sovereign fund [Mubadala]," he added in an interview with Al Arabiya, Sky News Arabia and RT Arabic.

He said that the joint platform is worth approximately US$7 billion. "US$2 billion have already been invested, work is underway on other projects."

Putin will pay a historic state visit to the UAE on Tuesday. His last visit was in 2007.

"It is safe to say that the United Arab Emirates greatly contribute to resolving regional crises, and play a stabilising role in the region," he said.

"It is no great secret that we maintain regular contacts with the leadership of the United Arab Emirates.

"There is even an established tradition, a practice to compare notes regarding different topics. In my opinion, we are doing it for the benefit of both parties, and the region as a whole," he added.