He met with Abu Dhabi's crown prince Mohammed bin Zayed Al Nahyan on Tuesday and discussed the recent developments in the region, Efe news reported.
During their meeting at Abu Dhabi's Presidential Palace, Putin and Al Nahyan also discussed ways to boost the two nations' relationship and strategic cooperation, the state-run WAM news agency reported.
Al Nahyan said he hopes Putin's visit helps to achieve the goals of strengthening ties in different fields between both countries, according to the source.
The two countries also signed agreements worth $1.4 billion, Russian news agency Tass reported.
"Investments are to be made in petrochemistry, transport, and medicine. New deals have been closed today. These are projects worth about $1.4 bln, and they cover a wide range of industries," the Russian leader said at a meeting with business representatives of the two countries.
He added that industrial cooperation between Russia and the UAE is gaining momentum.
"We welcome our Emirates friends' entry into the share capital of the company, the manufacturer of executive Aurus cars.
"We are doing and will do all that is necessary to make investors, including those from the United Arab Emirates, feel comfortable in our market," he continued.
Putin has embarked on a tour in the Middle East that included Saudi Arabia, where he witnessed the signing of 20 memorandums of understanding, which covered sectors such as mining resources, the aviation industry, public administration and commerce.
The Russian president, who visited UAE in 2007, has met Al Nahyan on 10 different occasions and had numerous phone calls with him, the most recent in June this year.
Both officials signed a strategic partnership declaration during Al Nahyan's visit to Moscow in June 2018.
Both countries will pay special attention to economic and commercial cooperation during the conversations, according to the Kremlin.
UAE is a popular touristic destination among Russ thanks in part to visa exemptions.
There is one Russian Orthodox church in the UAE in the city of Sharjah which was inaugurated in 2011.
( With inputs from IANS )