Russia-GCC trade volume increases by 45%, says Lavrov

Russian Foreign Minister Sergey Lavrov announced that total trade between the Russian Federation and member states of the Gulf Cooperation Council (GCC) grew by 45% last year.

Speaking at the ninth round of the Russia-GCC Strategic Dialogue in Manama, Bahrain, Lavrov noted that the growth is supported by a multilateral joint action plan for 2023-2028. He emphasized that successful economic partnerships are closely tied to regional security and stability.

The GCC comprises six Arab states: Saudi Arabia, the United Arab Emirates, Kuwait, Bahrain, Oman, and Qatar. Discussions between the parties aim to further strengthen mutually beneficial cooperation across trade, economic, cultural, and humanitarian sectors.