Page 454 - MOE ENGLISH PR REPORT- NOVEMBER 2024

11/12/24, 12:02 PM UAE and Australia sign Cepa deal to boost trade to $15bn by 2032 | The National
Minister and Minister of Foreign Affairs and Australian Minister for Foreign Affairs

Penny Wong.

On December 13 last year, Australia and the UAE announced the commencement of

negotiations for the arrangement to boost economic ties.

The conclusion of negotiations on the Cepa was announced on September 17.

The UAE is Australia's largest trade and investment partner in the Middle East. With $9.43

billion in two-way goods and services trade last year (over $10 billion pre-Covid),
according to the Australian government’s Department of Foreign Affairs and Trade

website. The UAE is also Australia's 21st largest trading partner globally.

Goods and services exports to the UAE were worth $5.2 billion last year and were

dominated by alumina, meat and oil seeds. Australian goods and services imports from the

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