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1/2/25, 5:08 PM UAE, Eurasian Economic Union conclude CEPA negotiations

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UAE, Eurasian Economic Union conclude CEPA negotiations
In the first half of 2024, the UAE shared non-oil trade worth $13.7 billion with the bloc

The UAE’s expanding network of trade deals resulted in record non-oil trade of AED1.4 trillion in the first six months of 2024 (Image: WAM)
Published: Wed 11 Dec 2024, 11:57 AM
The UAE and the Eurasian Economic Union (EAEU) have successfully concluded negotiations aimed at
reaching a comprehensive economic partnership agreement 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.
Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, and Andrey Slepnev, Member of the
Board in charge of Trade of the Eurasian Economic Commission, have recently confirmed the conclusion of
negotiations toward the economic partnership between the two sides.
Stronger Gulf-Eurasia ties
Al Zeyoudi stressed that the conclusion of economic partnership agreement 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.
“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,” he added.
With a total population of around 200 million people and a GDP approaching $5 trillion, the EAEU offers
several opportunities for the UAE’s private sector. Meanwhile, the UAE and its growing network of global trade
partners offer the union’s 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 of our deeper ties unfold,” Al Zeyoudi added.
New opportunities for economic and technological cooperation
For his part, Andrey Slepnev confirmed that the agreement between the UAE and the Eurasian Economic Union
will not only deepen trade relations by improving market access for goods and removing unnecessary barriers to
trade but also provide new opportunities for economic and technological cooperation between countries.
“The EAEU actively forms a network of economic partnerships with friendly countries. The economic
partnership agreement with the United Arab Emirates is a significant milestone, given the UAE’s role as a
global hub in the region. The EPA will provide an additional boost for mutual trade, which is already showing
unprecedented growth, and create a systemic basis for cooperative ties,” Slepnev said.

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