Page 127 - 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
“The agreement will play an active role in the revitalisation of the Ukrainian
economy, and we look forward towards the ratification of the deal and the new

opportunities it will create for the business communities on both sides.”

The UAE's Cepa programme is expected to bolster the UAE’s exports by 33

per cent and contribute more than Dh153 billion ($41.7 billion) to national GDP
by 2031.

Its benefitsinclude enhanced market access, lower or eliminated tariff rules,

simpler customs procedures, transparency and rule-based competition.

Dr Thani Al Zeyoudi, Minister of State for Foreign Trade, and Yulia Svyrydenko, Ukraine’s First Deputy Prime
Minister and Minister of Economic Development and Trade, during the signing of a joint statement to
conclude Cepa talks. Wam

Ukraine's economy, which was hit hard after Russia's invasion in February
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2022, has started to gradually recover.

The war had dragged Ukraine's economy to a 29.1 per cent contraction that

year, data from the International Monetary Fund shows.

However, its GDP rebounded and posted 5 per cent growth in 2023, with

expectations of expansion between and 4 per cent expansion in 2024, the
Washington-based fund said.

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