Page 275 - MOE ENGLISH PR REPORT - MAY 2025 (Part 1)_Neat

The EU is already one of the UAE’s key trading partners, accounting for 8.3% of non-oil trade. In
2024, non-oil trade between the two reached US$67.6 billion, representing a growth of 3.6% over
2023.
Al Zeyoudi emphasised the importance of the CEPA with the EU, stating, “Our negotiations toward a
UAE-EU Comprehensive Economic Partnership Agreement is of great importance to both the UAE
and the EU and represents an extraordinary opportunity for us both to enhance trade and
investment ties that will foster greater collaboration and create mutual benefits and prosperity. By
working together, we will strengthen our supply chains, drive innovation, and create jobs that will
benefit our communities and economies for many years to come.”

Maroš Šefčovič commented, “Europe continues to be a reliable trading partner, which respects the
deals it makes. And it is natural to seek to grow our relations with long-standing and trusted
partners like the United Arab Emirates. A bilateral FTA would unlock tremendous business
opportunities for European and Emirati businesses alike. Our aim is therefore to reach an ambitious
deal that is commercially meaningful on both sides – one that brings tangible, lasting benefits,
along with predictability, so essential to any successful business. This would add strength to our
regional cooperation with the Gulf Cooperation Council countries.”

During the investment roundtable, representatives from the UAE and the European private sectors,
engaged in discussions to identify mutual investment opportunities that can drive innovation and
sustainable economic development.
FDI flows between the UAE and EU are strong and robust, with recent partnerships in data centres
in Italy, solar plants in Spain, and neighbourhood redevelopment in Budapest. A UAE-EU CEPA has
the potential to unlock further opportunities, including a US$50 billion AI data centre deal with
France and a US$40 billion commitment in Italy’s energy and defense sectors.

The CEPA programme is a key pillar of the UAE's foreign trade agenda, reflecting the nation's
commitment to open, rules-based trade to drive economic growth and diversify its economy.
By enhancing access to global markets and establishing stronger trade and investment flows with
partners around the world, the CEPA programme has contributed to a record non-oil trade of
US$816 billion in 2024, marking a 14.6% increase over 2023.

https://www.msn.com/en-ae/money/economy/uae-eu-continue-talks-on-comprehensive-
economic-partnership-agreement/ar-AA1FDYiJ?ocid=BingNewsSerp