This article explores a very important topic of bilateral and multilateral international cooperation, both on a bilaterally and multilaterally basis, which is high importance in the process of the steady elaboration of the countries. The objective of the paper is to reveal central directions and elements of bilateral trade, economic, and technical collaboration between the Russian Federation and the UAE. In the paper the authors comprehensively analyzed the features, opportunities, problems and prospects of such cooperation. The novelty of the article is the study of the countries’ readiness for high-tech cooperation, especially in the space segment. The result of the study: it was revealed that the UAE and the Russian Federation have an objective need to improve their technological level in order to obtain new opportunities for participation in the international division of labor, diversification of their economic systems and foreign trade, increase and strengthen their regional and/or global role, and - most importantly – to step up their long-term sustainable development. The authors conclude that international cooperation on a bilateral and/or multilateral basis can contribute to the solution of these and other problems in the long run. Combining efforts in the field of hightech development provides a synergistic effect and long-term sustainable result. In the article, the authors used methods of analysis and synthesis, scientific abstraction, statistical and deductive methods. © 2021, Springer Nature Switzerland AG.