Page 686 - MOE ENGLISH PR REPORT - DECEMBER 2024

1/2/25, 5:08 PM UAE, Eurasian Economic Union conclude CEPA negotiations
Read: Abu Dhabi Customs launches 2024-2028 Strategic Plan
CEPA deals propel non-oil trade to record high
Following several rounds of discussions, the economic partnership agreement reflects deepening ties between
the UAE and the Eurasian Economic Union. In the first half of 2024, the UAE shared non-oil trade worth $13.7
billion with the bloc, representing a 29.6 percent surge compared to the same period in 2023.
The deal aims to boost these figures by reducing or removing tariffs, eliminating technical barriers to trade,
expanding market access, and aligning customs procedures. The agreement also seeks to harmonize digital trade
and e-commerce in addition to creating new platforms for SME collaboration.
The agreement reinforces the centrality of foreign trade to the UAE’s economic agenda. The Comprehensive
Economic Partnership Agreement program now boasts six deals in force with a further nine signed and awaiting
implementation. 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, an 11.2 percent increase compared to the same period in 2023.

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