Page 166 - MOE ENGLISH PR REPORT - JUNE 2024

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.

The UAE is already Georgia’s leading trading partner in the Arab world, accounting for
over 63 per cent of its total trade with the region. The agreement builds on robust and
rapidly growing economic ties between the two countries that saw bilateral non-oil trade
reach US$511.2 million in 2023, a growth of 6.3 percent compared to 2022.

The UAE is also Georgia’s sixth-largest global investor, accounting for 5 per cent of its
total Foreign Direct Investment (FDI) inflows. Bilateral investment between the two
countries currently stands at over US$1 billion. The deal aims to accelerate investment
flows in key sectors, including tourism and hospitality, real estate, renewable energy,
retail and wholesale, transport and logistics, manufacturing, electrical equipment and
construction materials.

On entry into force of the deal, Dr Thani bin Ahmed Al Zeyoudi, Minister of State for
Foreign Trade, said, “The implementation of our Comprehensive Economic Partnership
Agreement with the Republic of Georgia is another milestone in our foreign trade
agenda, aimed at strengthening bilateral relations with a dynamic, resilient and liked-
minded partner, strategically located in the heart of the Caucasus region, at the
intersection of Europe and Asia.”

He added, “Beyond its strategic location, Georgia presents a promising market for UAE
businesses to explore, with proven demand for our key exports and offering a
favourable commercial landscape. We have managed to secure a balanced deal that is
a win-win for both sides and one that lays the foundations for a new partnership that
leverages emerging opportunities, drives investment in priority sectors and contributes
to the global economic recovery.”

The Comprehensive Economic Partnership Agreement is a vital component of the
UAE’s foreign trade agenda, which seeks to establish stronger, more integrated trading
relationships with the most dynamic markets worldwide.

In addition to the UAE-Georgia CEPA, the UAE has signed and implemented CEPAs
with India, Indonesia, Israel, Türkiye, and Cambodia and is in the process of concluding
more deals with nations spanning Asia, Europe, Africa and South America.

https://en.aletihad.ae/news/business/4496463/uae-s-comprehensive-economic-partnership-
agreement-with-geor