Page 150 - MOE ENGLISH PR - APRIL 2024

The bilateral trade deal 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.

Highlighting the positive impact of the trade 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 toward 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 milestone in our bilateral relations. I am confident that the
Ukrainian and Emirati business communities will fully capitalise on the opportunities
presented by the Ukraine-UAE CEPA, unlocking the potential in our trade and economic
cooperation.”

In 2023, the UAE and Ukraine conducted $385.8m in non-oil trade, with joint FDI stock
standing at $360m 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 follows similar trade tie-ups with Costa
Rica and Colombia as the UAE expands its network of trading partners across global
markets.

The deal is the UAE’s 15th CEPA agreement 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, noted the WAM report.

The UAE’s CEPA programme is expected to bolster the country’s exports by 33 per
cent with a Dh153bn($41.7bn) boost to the national GDP by 2031.

https://gulfbusiness.com/uae-ukraine-finalise-terms-of-cepa-deal/