Page 171 - MOE ENGLISH PR - APRIL 2024

UAE and Ukraine finalise Cepa terms in boost

to war-torn nation's recovery

Story by Alvin R Cabral

• 2d • 3 min read

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 implemented, formally signed, or
has successfully been negotiated with nations spanning Africa, Asia, Europe and

South America.

Eleven have so far been signed,
with India, Turkey, Israel, Indonesia, Cambodia, Georgia, 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, Minister of State for

Foreign Trade.

https://www.msn.com/en-ae/money/news/uae-and-ukraine-finalise-cepa-terms-in-boost-to-war-
torn-nations-recovery/ar-AA1nRnsN