Page 126 - MOE ENGLISH PR - APRIL 2024

5/1/24, 3:35 PM UAE and Ukraine finalise Cepa terms in boost to war-torn nation's recovery

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The UAE and Ukraine have finalised the terms for a Comprehensive Economic
Partnership Agreement, which is hoped to boost the economy of the Eastern
European nation disrupted by its two-year war with Russia.

The agreement will provide a host of mutual benefits for the two countries,

including the reduction of tariffs on essential products and the removal of
trade barriers to promote fair market access, state news agency Wam
reported on Monday.

The deal is also hoped to support Ukraine's recovery through the rebuilding of

vital economic sectors and infrastructure, in addition to boosting its supply
chain to the Middle East and North Africa for its major exports, including
grains, machinery and metal.

The deal is the UAE's 15th Cepa that has been
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implemented, formally signed, or has
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to bolster trade ties successfully been negotiated with nations
spanning Africa, Asia, Europe and South
UAE signs 11th economic America.
partnership deal amid trade
expansion push Eleven have so far been signed, with India,

How the UAE set the global trade Turkey, Israel, Indonesia, Cambodia, Georgia,
agenda in 2023 Mauritius, Kenya, the Republic of Congo,

Colombia and Costa Rica.

The UAE is currently holding talks to conclude new deals with Serbia,
Vietnam, the Philippines, New Zealand and Ecuador, while negotiations with

South Korea are complete.

The implementation of its latest Cepa will help Ukraine's business community
access a "new platform" from which they can tap into the high-potential
markets of Asia and Africa through the UAE, said Dr Thani Al Zeyoudi, Feedback

Minister of State for Foreign Trade.

It will also unlock "new investment pathways that can reconstitute sectors
such as logistics, manufacturing and IT and rebuild essential infrastructure”, he

added.

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