In the contemporary global landscape, geopolitical and economic dynamics are becoming increasingly complex, prompting states to broaden their strategic alliances and cooperation to secure national interests, stability, and economic development. A notable example of such cooperation is the strategic partnership between Belarus and the United Arab Emirates (UAE) – two countries that, at first glance, may appear geographically and culturally distant, yet are forging strong ties and building bridges between East and West.[2]

Situated in the heart of Europe, Belarus—Russia’s close ally—shares borders with three EU member states (Poland, Lithuania, and Latvia), as well as with Russia and Ukraine. Its geostrategic location offers substantial potential for economic connectivity between Europe and Eurasia, while a well-developed industrial base and strong innovation capacity make Belarus an attractive partner for foreign investment.

The United Arab Emirates (UAE), a close ally of the United States, lies along the southeastern coast of the Arabian Peninsula, bordering Saudi Arabia and Oman. It controls the crucial maritime route of the Strait of Hormuz, through which around 20% of the world’s daily oil production passes. The UAE is one of the most important global economic centres and the Middle East’s premier investment hub, with a strong focus on economic diversification and investment in infrastructure, technology, and financial services.

Cooperation between Belarus and the UAE is unlocking new avenues for interregional trade, investment, and infrastructure development, serving as a bridge between the markets of Europe, Asia, and the Middle East. Through joint projects and strategic investments, the two nations are laying the groundwork for lasting economic stability and prosperity.

The UAE sees Belarus as an important partner for accessing the Eurasian Economic Union (EAEU) market, as well as a strategically positioned gateway in the heart of Eastern Europe. Belarus, under sanctions imposed by Western countries, is seeking partners beyond the Western world to diversify its investment, trade, and political relations. For Minsk, the UAE is an attractive partner due to its access to capital, neutral stance on political issues, and long-term development vision.[3]

For many countries, cooperation with the United Arab Emirates (UAE) represents one of the key components of contemporary international relations, and particularly so for Belarus, thanks to the UAE’s strategic location, economic potential, and political stability. As one of the most developed states in the Middle East, the UAE has built a robust and diversified economy based not only on oil and gas but also on financial services, technology, tourism, and infrastructure. The country has emerged as a key global hub for trade, investment, and innovation, making it a natural partner for states seeking to expand their economic and political reach. Beyond its economic significance, cooperation with the UAE offers distinct geostrategic advantages, including access to vital transport routes and enhanced regional security. In light of these factors, forging and strengthening partnerships with the UAE takes on added significance for countries pursuing sustainable development and stability in today’s global environment.

With a GDP of around USD 76 billion, a developed industrial base, an agricultural sector, and a growing IT industry, Belarus presents an attractive destination for foreign investors. The UAE, by contrast, stands as the Gulf’s economic powerhouse, with a GDP exceeding USD 500 billion, successfully balancing traditional revenue streams and modern sectors such as finance, tourism, and renewable energy. Their cooperation is further reinforced by their membership in two major economic alliances—Belarus in the Shanghai Cooperation Organisation (SCO) and the UAE in the Gulf Cooperation Council (GCC)—highlighting both countries’ commitment to regional and global integration.[4]

Macroeconomic stability and Belarus’s growth – prospects for the future

Belarus today is experiencing notable economic progress and stability, making it an attractive destination for investors and international partners. With a gross domestic product growth rate of around 4% in 2024, the country shows strong potential for continued development and expanding economic activity. This growth stems from prudent economic policies, a diversified economy, and successful cooperation with strategic partners, including Russia, China, and the Gulf countries.

Inflation remains under control, and the unemployment rate is at a historic low of around 3%, indicating a stable and favourable business environment. Belarus has even begun attracting workers from neighbouring EU member states. The government is actively investing in infrastructure modernisation, technological development, and support for innovation, laying the foundations for sustainable and long-term economic growth.

Belarus is positioning itself as a reliable partner with a clear vision for development and stability, offering a wide range of investment opportunities across industry, energy, the IT sector, and other key areas.  One notable investment success story is the Hi-Tech Park in Minsk, which has attracted over 400 international companies and emerged as a regional innovation hub. Industrial clusters in mechanical engineering and pharmaceuticals are also experiencing export growth and technological modernisation.

Partnering with Belarus means accessing a rapidly growing and transforming market, backed by strong institutional support and a favourable climate for international investment. The country’s geostrategic position also provides easy access to European, Asian, and Middle Eastern markets—an additional advantage for business expansion. 

For those seeking a promising destination for business and investment, Belarus offers a secure and dynamic opportunity for success in the 21st century.[5]

The UAE – a pillar of economic stability and global investment leadership

The United Arab Emirates has come to be recognised as a symbol of stability, strategic governance, and visionary development in the 21st century. Amid global crises, economic turmoil, and rising geopolitical tensions, the UAE stands out as a safe haven, owing to its robust macroeconomic foundations, economic diversification, stable financial system, and transparent government policies.

In 2024, the UAE recorded stable GDP growth of over 3.5%, coupled with low inflation below 3%, a positive fiscal balance, and an international credit rating of “AA”. Alongside a trade surplus, the country continues to climb global competitiveness rankings and is already among the top 20 most competitive economies worldwide, according to data from the World Economic Forum.

One of the strongest indicators of the country’s economic power is the scale of its sovereign wealth funds. The Abu Dhabi Investment Authority (ADIA) manages assets worth approximately USD 1.06 trillion, ranking it fourth among the world’s largest sovereign wealth funds. Other major Abu Dhabi-based funds include Mubadala ($330 billion), ADQ ($157 billion), and several others, bringing the total value of sovereign investment capital to over USD 1.7 trillion.

Foreign direct investment and strategic infrastructure

The UAE is one of the world’s most attractive destinations for foreign direct investment (FDI), with annual inflows exceeding USD 25 billion—particularly in renewable energy, technology, logistics, financial services, and healthcare. Special economic zones such as the Dubai International Financial Centre (DIFC) and Abu Dhabi Global Market (ADGM) offer 100% foreign ownership, tax incentives, and exceptionally efficient business infrastructure.

In terms of infrastructure, the UAE continues to invest in forward-looking projects: Masdar City—a sustainable urban development in the heart of the desert; Etihad Rail—the national railway network; the expansion of the Dubai Metro; and vast sea and air ports connecting the country to all continents. At the same time, the UAE is a leader in the green transition, with landmark initiatives such as Noor Abu Dhabi and the Mohammed bin Rashid Al Maktoum Solar Park—both among the world’s largest solar power plants.[6]

UAE investments in Belarus and prospects for cooperation

As part of its global investment outreach, the UAE has emerged as a key partner to Belarus, with total investments exceeding USD 500 million. These investments span key sectors including finance, infrastructure, technology, energy, and agriculture, reflecting a clear upward trend and strengthening bilateral economic ties.

The bulk of UAE investment is directed towards the financial sector, with around USD 150 million allocated to modernising Belarusian banks and financial institutions, supporting digital transformation and the development of innovative financial products. In the infrastructure sector, investments total approximately USD 120 million, contributing to the construction of logistics centres and industrial zones that connect Belarus with European and Asian markets.

The technology sector has also become a key focus, with approximately USD 80 million in UAE investment supporting the development of Belarus’s IT industry and digitalisation, bolstering the country’s technological potential. In the energy sector, some USD 50 million has been directed towards renewable energy projects and infrastructure modernisation in support of sustainable development. In agriculture and the food industry, the UAE has invested around USD 30 million to boost production and enhance competitiveness in international markets.

These investments reflect more than just economic cooperation—they also confirm an upward trend in the expansion of bilateral relations, opening up new avenues for growth and shared prosperity.[7]

Donald Trump’s visit to the UAE and the USD 1.4 trillion investment initiative 

The pinnacle of the UAE’s global positioning came on 15 May 2025, when US President Donald Trump visited Abu Dhabi, reaffirming the strategic partnership between the two countries. During the visit, the largest bilateral investment initiative in history was announced—with the UAE committing USD 1.4 trillion to infrastructure, energy, and technology projects in the United States over the next ten years.

This ambitious plan includes:

USD 100 billion allocated to artificial intelligence, quantum computing, and semiconductors, in cooperation with Microsoft, NVIDIA, and G42;

USD 25 billion invested in US energy infrastructure and data centres, in partnership with Energy Capital Partners;

Investments in LNG projects and the new facilities in Texas through companies such as ADNOC and XRG;

The construction of the first aluminium smelter in the United States in 35 years, led by Emirates Global Aluminium (EGA).

These investments cement the UAE’s role as a key actor in the development of advanced technologies, energy security, and the revitalisation of American industry. Donald Trump’s visit was not merely political symbolism—it reaffirmed that the United States sees the Emirates as a reliable partner for the 21st century. The UAE is more than a regional power—it is a global investment leader, a creator of new development models, and a bridge between East and West. Its ability to connect capital, innovation, infrastructure, and diplomacy makes it an indispensable partner for all those seeking stability and growth.

Foreign direct investment and infrastructure projects in Belarus – paving the way for sustainable economic development

Belarus today stands at the crossroads of dynamic economic and infrastructure opportunities, making it an attractive destination for foreign investors and strategic partners due to its geographic position, which grants it unique geostrategic importance. Over the past decade, Belarus has consistently worked to improve its business environment, develop high-tech sectors, and modernise its infrastructure.

Thanks to stable macroeconomic policies, a transparent legal framework, and strong government support, Belarus is positioning itself as a prime destination for foreign direct investment. The strategic partnership with the UAE holds particular significance, unlocking new investment opportunities and opening doors for new joint projects. This synergy offers investors long-term development prospects and integration into global value chains, while Belarus pursues its clear ambition to become a leader in technological and infrastructure development.

Key figures and facts

Total foreign investment inflow in 2024: USD 6.9 billion

Foreign direct investment (FDI) in 2024: USD 5.2 billion

Total cumulative FDI stock: USD 15.8 billion

Top investors:

Russia – approx. 24.9%

United Arab Emirates – approx. 14.3%

Cyprus – approx. 13.1%

China – approx. 4.3%

Germany – approx. 3.5%

Netherlands – approx. 2%

Hi-Tech Park Minsk

More than 1,000 IT companies are registered in the park

It employs over 60,000 highly qualified professionals

Foreign capital inflows into Belarus since 2020 have exceeded USD 20 billion

IT service exports reached USD 1.8 billion in 2024

In 2024, the IT sector contributed roughly 2% to Belarus’s GDP—amounting to an estimated USD 1.5 to 1.8 billion annually, based on a total GDP of approximately USD 76 billion

The IT sector’s export surplus stands at approximately USD 1.6 billion

Infrastructure projects

Modernisation of major transport corridors M1, M5, and M6, linking Belarus with European and Asian markets

Implementation of the E40 inland waterway project, connecting the Baltic and Black Seas via Belarus

Investments in renewable energy sources: wind farms, solar power plants, and biogas facilities

Deployment of 5G networks, e-government systems, and smart city technologies in partnership with China and the UAE

Construction of new hospitals, universities, and research centres to improve healthcare and education

Favourable investment climate

Belarus is recognised as a country offering an exceptionally favourable business environment for foreign investors—one of the key factors behind its growing appeal as an investment destination. Among the most significant advantages are the special economic zones, such as the Hi-Tech Park in Minsk and the free economic zones in Brest and Grodno, which offer tax incentives, customs privileges, and simplified procedures for registration and business operations. This framework significantly reduces operational costs and accelerates business development.

In addition to fiscal benefits, Belarus guarantees legal security of investments and investor protection in line with international standards, including safeguards against expropriation and the option to resolve disputes through international arbitration institutions. Such legal stability provides foreign companies with additional security and confidence.

An equally important advantage is access to a vast market of over 1.6 billion consumers through free trade agreements signed by Belarus with the Eurasian Economic Union (EAEU) and China. A broad network of trade agreements creates significant opportunities for exports and business expansion.

Finally, it is important to highlight the availability of a skilled and competitive workforce at considerably lower costs than in Western countries, which further strengthens the overall competitiveness of the business environment. Taken together, these advantages position Belarus as an ideal destination for investment and the development of new projects.

A synergy of leadership: Aleksandr Lukashenko and Sheikh Mohammed bin Zayed Al Nahyan – anchors of stability and progress

Aleksandr Lukashenko is the undisputed architect of stability and economic development in the Republic of Belarus. Through his long-standing, visionary and resolute policies, he has succeeded in preserving the country’s stability during the most challenging times, leading Belarus towards sustainable economic growth and modernisation. His pragmatic approach—blending traditional values with innovative methods—has positioned Belarus as a prominent player on both the regional and global stage. Under his leadership, the country has attracted substantial foreign investment, advanced its industry, technology, and infrastructure, and raised the standard of living for its citizens.

On the other hand, Sheikh Mohammed bin Zayed Al Nahyan, President of the United Arab Emirates, is renowned for his visionary transformation of the UAE into one of the world’s most advanced and stable economic hubs. His strategic focus on innovation, technology, and sustainable development has established the UAE as a global frontrunner in attracting investment and infrastructure projects. A genuine visionary, Sheikh Mohammed champions the value of partnerships and shared prosperity—an outlook that resonates strongly with the ambitions of Belarus under Lukashenko’s leadership.

The synergy between President Aleksandr Lukashenko and Sheikh Mohammed bin Zayed Al Nahyan reflects a powerful alliance between two visionary leaders who are bridging divides between two opposing political and economic blocs, driving strategic investments and technological innovation. Their collaboration goes beyond a conventional political partnership, standing as a source of inspiration for other countries and future generations. Their historic partnership not only reinforces the foundations of stability and prosperity in Belarus and the UAE but also opens a new chapter of political and economic harmony between Eastern Europe and the Middle East. It heralds the dawn of a new era—rooted in mutual respect, bold vision, boundless ambition, and a belief in sovereign development as the cornerstone of true global balance and progress.

Donald Trump’s administration: A new hope for Eastern Europe and the Middle East

Under the decisive and unconventional leadership of President Donald Trump, a new vision of global politics has emerged—one that transcends old divisions and ideological boundaries. The Trump administration injected fresh energy and a realpolitik approach, rekindling hope throughout Eastern Europe and the Middle East. At the heart of this vision lie sovereignty, strong bilateral relations, economic growth, and geopolitical stability—foundations for a new era of cooperation and investment opportunities. Trump rewrote the rules for a world seeking security, strength, and respect. ‘America First’ is not merely a slogan—it is a doctrine affirming that a strong and prosperous United States is a cornerstone of global stability and economic progress. A thriving America is a guarantor of global political and economic progress, bringing opportunity and security to all.

A defining moment during this period was the historic visit of US Secretary of State Mike Pompeo to Minsk on 1 February 2020, during President Trump’s first term in office. This marked the first visit by a US Secretary of State to Belarus in 26 years, symbolising a renewal of dialogue and a deeper bilateral relations. The earlier visit by National Security Advisor John Bolton in 2019 further underscored Belarus’s growing significance in the US strategy towards Eastern Europe.

Another major achievement of the Trump administration was the Abraham Accords of 2020—landmark peace agreements that established new diplomatic and economic ties between Israel and several Middle Eastern countries, including the United Arab Emirates. These accords not only brought peace to regions long plagued by conflict but also laid the groundwork for sustained cooperation in the areas of trade, technology, and security.

This policy provided crucial momentum for a range of initiatives aimed at fostering dialogue, security, and economic development—particularly in complex and vulnerable regions. It was precisely this form of indirect diplomacy that enabled closer cooperation between countries such as Belarus and the United Arab Emirates, which are now building bridges of peace, prosperity, and technological progress.

During his first term from 2017 to 2021, Donald Trump established a robust platform for shared global growth and development. He recognised the vital importance of balanced and strategic partnerships, reviving dialogue and direct engagement with leaders such as Vladimir Putin and Recep Tayyip Erdoğan—a step largely overlooked by the previous administration. His vision was clear: to initiate key efforts to end the conflicts in Ukraine and Gaza, which remain in early stages but hold promise for lasting peace. After more than 80 years of conflict and suffering, the Palestinian and Israeli people finally deserve peace. This policy is already proving its worth, as evidenced by the prevented escalation of nuclear conflict between Pakistan and India in April 2025, averting a potential global catastrophe.

The Belarus–UAE partnership rests on complementary interests and a long-term strategic approach. Belarus contributes a robust industrial base, a skilled workforce, and a favourable geographic position between East and West, while the UAE brings investment capacity, advanced technologies, and global connectivity. This cooperation extends beyond economic initiatives, encompassing knowledge exchange, joint innovation efforts, and the strengthening of institutional capacity.

This balanced and pragmatic form of partnership demonstrates how countries with different systems and cultures can come together through mutual respect and clearly defined common interests. The model of cooperation evolving between Belarus and the UAE may serve as an inspiration to other nations—particularly in the Middle East and the Western Balkans—that are striving for stability, modernisation, and economic diversification. In a time of global uncertainty and shifting alliances, this approach offers a pathway to lasting peace and sustainable prosperity for generations to come.[8]

Investments by the United Arab Emirates in the region represent a strong vote of confidence in the stability and development potential of countries like Serbia. Through strategic investments, the UAE is contributing to accelerated economic development and enhanced regional cooperation.

Under the leadership of President Aleksandar Vučić, Serbia stands out as an outstanding example of a successful model for attracting foreign direct investment and driving economic transformation. Since taking office as Prime Minister in 2014, Vučić’s decisive, visionary, and responsible leadership has fostered a stable, transparent, and business-friendly environment—building trust and providing security for international investors.

Of particular note is the deep mutual respect and friendship between President Vučić and Sheikh Mohammed, President of the UAE, which continues to strengthen bilateral relations and opens the door to new investments and cooperation. Aleksandar Vučić enjoys broad international recognition, further enhancing Serbia’s standing as a reliable partner in global economic affairs.

Serbia has become one of the region’s most attractive investment destinations, reflected in the growing volume of investment from the UAE and other global partners. This success underscores the importance of clear strategic vision, responsible governance, and strong alignment between domestic policy and international investment in achieving sustainable economic growth and long-term stability.

In recent years, Serbia has recorded significant growth in foreign direct investment, with total accumulated investments exceeding USD 60 billion. This is a testament to the country’s strong development and the confidence it enjoys among investors, particularly from major global economies such as China, EU member states, and the United Kingdom.[9]

[1]  IFIMES – International Institute for Middle East and Balkan Studies, based in Ljubljana, Slovenia, has a special consultative status with the United Nations Economic and Social Council ECOSOC/UN in New York since 2018, and it is the publisher of the international scientific journal “European Perspectives.” Available at: https://www.europeanperspectives.org/en 

[2] UAE To Assist Belarus To Develop Middle East Trade. Available at: www.middleeastbriefing.com/news/uae-to-assist-belarus-to-develop-middle-east-trade/?utm_source=chatgpt.com

[3] Trade and economic cooperation between the Republic of Belarus and the UAE is steadily developing. Available at: https://uae.mfa.gov.by/en/bilateral_relations/UAE/economy/

[4] UAE investments in Belarus exceed USD 4 billion, informs the minister. Available at: thttps://globalbusinessoutlook.com/banking-and-finance/uae-investments-belarus-exceed-usd-billion-informs-minister/

[5] EDB: Belarus maintains high economic growth. Available at: https://eng.belta.by/economics/view/edb-belarus-maintains-high-economic-growth-166209-2025/?utm_source=chatgpt.com

[6] IMF Executive Board Concludes 2024 Article IV Consultation with the United Arab Emirates. Available at:  www.imf.org/en/News/Articles/2024/12/05/pr-24450-united-arab-emirates-imf-executive-board-concludes-2024-article-iv-consultation?utm_source=chatgpt.com

[7] Trump effect: A Running List of New U.S. Investment in President Trump’s Second Term. Available at: www.whitehouse.gov/articles/2025/05/trump-effect-a-running-list-of-new-u-s-investment-in-president-trumps-second-term/

[8] Belarus, UAE have significant potential for closer economic, investment cooperation. Available at:  https://eng.belta.by/society/view/mp-belarus-uae-have-significant-potential-for-stepping-up-economic-investment-cooperation-168030-2025/?utm_source=chatgpt.com 

[9] Foreign direct investment (FDI) in Serbia, link:  https://www.bankofscotlandtrade.co.uk/en/market-potential/serbia/investment