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5/1/24, 3:36 PM UAE, Ukraine clear CEPA terms to elevate non-oil foreign trade - GulfToday
Once implemented, the UAE-Ukraine CEPA will remove or reduce tariffs on key
product lines, remove unnecessary trade barriers and promote fair market
access to exporters from both sides.

Importantly, it will support Ukraine’s recovery and the rebuilding of key
industries and infrastructure, while also helping to strengthen supply chains to
the MENA region for major exports such as grains, machinery and metals.

Upon the conclusion of negotiations, Al Zeyoudi said, “Ukraine is a bridge to
Europe for our exporters and an important ally in our food security imports.
Once implemented, the CEPA will offer Ukraine’s industrialists and
entrepreneurs a new platform from which they can expand into the growth
markets of Asia and Africa through the UAE, while unlocking new investment
pathways that can reconstitute sectors such as logistics, manufacturing and IT
and rebuild essential infrastructure.”

He added, “The agreement will play an active role in the revitalisation of the
Ukrainian economy, and we look forward to the ratification of the deal and the
new opportunities it will create for the business communities on both sides.”

Meanwhile, Yulia Svyrydenko said, “The conclusion of CEPA negotiations
between Ukraine and the UAE marks a historic milestone in our bilateral
relations. I am confident that the Ukrainian and Emirati business communities
will fully capitalize on the opportunities presented by the Ukraine-UAE CEPA,
thereby unlocking the immense potential in our trade and economic
cooperation.”

In 2023, the UAE and Ukraine shared $385.8 million in non-oil trade, with joint
FDI stock standing at $360 million by the end of 2022 across sectors such as
logistics and infrastructure, travel and tourism and advanced technology.

The conclusion of the negotiations with Ukraine is the latest milestone in efforts
to expand the UAE’s network of trading partners across global markets. It adds
to the 14 Comprehensive Economic Partnership Agreements that have either
already entered into force, been formally signed, or have been successfully
negotiated with strategic markets on the international trade map, including
Africa, South America, Asia, and Europe, and covering more than a quarter of
the world’s population.

Last week, the UAE and the Republic of Chile have successfully concluded
negotiations on a Comprehensive Economic Partnership Agreement (CEPA)
between the two friendly countries.

Dr Thani Bin Ahmed Al Zeyoudi and Alberto van Klaveren, Minister of Foreign
Affairs of Chile, signed a joint statement announcing the successful conclusion

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