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1/2/25, 5:09 PM UAE, EAEU conclude economic agreement negotiations - Dubai 92 - The UAE's Feel Great radio station

UAE, EAEU CONCLUDE ECONOMIC AGREEMENT

NEGOTIATIONS

News Home More from Business Wednesday, 11 December 2024 11:36
By ARN News Staff

WAM
The UAE and the Eurasian Economic Union (EAEU) have concluded negotiations for a comprehensive economic partnership
agreement (EPA).

It aims to enhance bilateral trade in goods between the UAE and the five members of the EAEU bloc- Armenia, Belarus, Kazakhstan,
Kyrgyzstan and Russia.

The Minister of State for Foreign Trade, Dr. Thani bin Ahmed 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 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 $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,” Al Zeyoudi added.

A Member of the Board in charge of Trade of the Eurasian Economic Commission, Andrey Slepnev, said the EPA 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.

Slepnev said, “The EAEU actively forms a network of economic partnerships with friendly countries. The [EPA] 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 additional boost for mutual trade, which is
already showing unprecedented growth, and create systemic basis for cooperative ties.”

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