Page 595 - MOE ENGLISH PR REPORT - FEBRUARY 2025 Part 1

UAE-Ukraine's CEPA will enter into force this year

Story by TF / MA

• 1w • 2 min read

ABU DHABI,17th February, 2025 (WAM) -- Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for
Foreign Trade, stated that the Comprehensive Economic Partnership Agreement (CEPA) with
Ukraine underscores the UAE’s steadfast approach to building developmental partnerships
worldwide.

In statements to the Emirates News Agency (WAM), Dr. Thani Al Zeyoudi emphasised that this
significant agreement aligns with the forward-looking vision of the UAE’s leadership, which
underscores the importance of enhancing international cooperation in trade and investment as the
best guarantee for establishing peace, stimulating growth, and promoting global prosperity.
He pointed out that upon its expected implementation in 2025, the agreement will eliminate
customs duties on 99% of Ukrainian imports of Emirati goods and 97% of Ukraine’s exports to the
UAE.

He added that the agreement aims to double the trade volume between the two countries. Despite
the ongoing war, non-oil bilateral trade reached $372.4 million in 2024, whereas in 2021, trade
stood at $904.4 million, reflecting a 28.4% growth compared to 2020.
He explained that the agreement benefits both countries by expanding the UAE’s trade
partnerships, marking it as the third trade agreement signed by the UAE with a European nation. At
the same time, Ukraine is one of the world’s leading producers and exporters of grains such as
wheat and barley, two critical commodities for achieving the UAE’s national food security
objectives.
He stressed that securing the flow of food supplies is a key pillar of the UAE’s Comprehensive
Economic Partnership Agreements. He highlighted that the agreement aims to support Ukraine’s
economic recovery efforts once peace is restored in the region and to open new markets for
Ukrainian products.

Furthermore, he noted that the agreement will create a new platform for investment partnerships
between business communities in both countries, focusing on promising sectors such as
infrastructure, heavy industries, aviation, space sciences, and information technology.

He explained that the UAE’s partnership with Ukraine aims to strengthen bilateral trade by reducing
or eliminating customs duties, removing unnecessary barriers to free trade, expanding service
exports to diverse markets, establishing a clear mechanism for resolving trade disputes, facilitating
digital trade, creating a dedicated platform for small and medium-sized enterprises (SMEs) to
collaborate and grow globally, and exploring opportunities for suppliers to participate in
government tenders in both countries.

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