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7/1/24, 3:29 PM UAE’s Comprehensive Economic Partnership Agreement with Georgia enters into force | Emirates News Agency

UAE’s Comprehensive Economic

Partnership Agreement with Georgia

enters into force

 Wednesday, June 26, 2024 6:54 PM • 3 minutes Reading

ABU DHABI, 26th June, 2024 (WAM) -- The UAE’s

Comprehensive Economic Partnership Agreement (CEPA)

with Georgia has officially entered into force, paving the

way for stronger collaboration between the two nations to

expand trade opportunities, empower SMEs, and

consolidate global supply chains.

It will do so by removing or reducing customs duties on 95

percent of tariff lines, which cover more than 90 percent

of the total non-oil bilateral trade between the two

countries, eliminating unnecessary barriers to trade, and

improving market access for service exports.

The UAE-Georgia CEPA is expected to more than triple the

total value of non-oil trade between the two countries to

US$1.5 billion within five years, while adding US$3.9

billion to the UAE’s GDP and US$291 million to Georgia’s

GDP by 2031.

In addition, the landmark deal is expected to substantially

increase UAE exports to Georgia to reach US$1.3 billion by

2031, with key UAE exports set to benefit including refined

sugar, electrical appliances, vehicles and parts, polymers

and machinery among others.

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