Page 684 - MOE ENGLISH PR REPORT - DECEMBER 2024

1/2/25, 5:08 PM UAE finalises pact to boost trade with Eurasian countries
The trade deal seeks to harmonise digital trade and e-commerce in addition to creating new platforms for SME
collaboration.

“The Economic Partnership Agreement with the UAE is a significant milestone, given the UAE’s role as a

global hub in the region,” said Andrey Slepnev, a member of the Eurasian Economic Commission Board.

The pact “will provide an additional boost for mutual trade, which is already showing unprecedented growth,
and create the systemic basis for cooperative ties.”

The UAE Government said in 2021 it planned to deepen its trade ties with fast-growing economies by

attracting $150bn in foreign investment. Its non-oil trade reached a record Dhs1.4tn in H1 2024, an 11.2 per
cent increase in foreign trade compared to the corresponding period a year ago.

The Gulf state’s CEPA programme aims to increase the country’s non-oil foreign trade to Dhs4tn by expanding
relations with strategically important markets around the world.

Earlier in October, the UAE’s signed CEPA agreements with Serbia, Malaysia and Jordan. It also signed
bilateral trade agreements with Australia, Vietnam and New Zealand in September.

Since 2021, the Emirates has initiated a raft of bilateral trade, investment, and cooperation deals to bolster
efforts to diversify income sources and economic sectors. To date, it has ratified five CEPAs with India, Israel,

Indonesia, Türkiye, Cambodia, and Georgia.

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