His Highness Sheikh Mohammed bin Rashid Al Maktoum, vice-president and prime minister of the UAE and ruler of Dubai, touched down in Russia on Monday (March 30th).
The sheikh was greeted by Russian president Dmitry Medvedev and the pair said that they were looking forward to pursuing productive financial and trade relations that will deliver tangible results for both countries.
"We are sure that this trip ... will produce common vision and fresh, creative ideas that will establish bilateral relations based on mutual respect and interest," Mohammed told Russian state media.
Emirates Business reports that bilateral trade relations between the two countries began productively in September 2007, when Vladimir Putin headed a high-profile delegation on a visit to the UAE.
As well as pledging to pursue mutually beneficial business activities, delegates from both countries also signed a number of co-operative agreements to establish long term economic and trade partnerships.
The favourable business relationship may prove important for Russians who are planning to invest in commercial property in Dubai.