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1/3/25, 3:22 PM UAE and the Eurasian Economic Union conclude negotiations on Economic Partnership Agreement. - Middle East Business News a…
Business News
UAE and the Eurasian Economic Union conclude

negotiations on Economic Partnership Agreement.

December 13, 2024 14

The UAE-EAEU Economic Partnership Agreement seeks to boost non-oil trade through the removal or reduction of tariffs and trade
barriers.

Bilateral non-oil trade between the UAE and the Eurasian Economic Union reached US$13.7 billion in H1 2024, up 29.6 percent
compared to 2023.

HE Al Zeyoudi: “The UAE and the Eurasian Economic Union has developed a prosperous, productive relationship that is based on a
shared commitment to long-term growth and economic diversification. The conclusion of negotiations on an Economic Partnership
Agreement between us will deepen these ties and enable us to build on our many synergies.”

Abu Dhabi, UAE –December 2024: His Excellency Dr Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, and His
Excellency Andrey Slepnev, Member of the Board (Minister) in charge of Trade of the Eurasian Economic Commission, have confirmed the
successful conclusion of negotiations toward an Economic Partnership Agreement (EPA) between the United Arab Emirates and the Eurasian
Economic Union (EAEU). The agreement is designed to enhance bilateral trade in goods between the UAE and the five members of the
EAEU bloc, which comprise Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia.

HE Al Zeyoudi stressed that the conclusion of EPA negotiations reflects the UAE’s firm belief in constructive international cooperation and
promotion of open, rules-based trade as a cornerstone of global economic growth and stability. HE Al Zeyoudi said: “The UAE and the
Eurasian Economic Union have developed a prosperous, productive relationship that is based on a shared commitment to long-term growth
and economic diversification. The conclusion of negotiations on an Economic Partnership Agreement between us will deepen these ties and
enable us to build on our many synergies.”

“With a combined population of some 200 million people and a GDP approaching US$5 trillion, the EAEU offers a rich seam of opportunity
for our private sector, while the UAE and its growing network of global trade partners offers EAEU exporters streamlined access to the
competitive, high-growth markets in the Middle East, Africa, Asia and South America. This agreement deepens vital links between the Gulf
and Eurasia region, and we look forward to seeing the tangible benefits our deeper ties unfold,” HE Al Zeyoudi added.

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