UAE, Ukraine finalise terms of economic partnership deal

Abu Dhabi, UAE - The United Arab Emirates and Ukraine have finalised the terms of a Comprehensive Economic Partnership Agreement (CEPA) between the two nations, the latest milestone in the UAE’S efforts to elevate the value of non-oil foreign trade to AED4TN by 2031.

The conclusion of negotiations was confirmed with the signing of a joint statement by Dr Thani bin Ahmed al Zeyoudi, Minister of State for Foreign Trade, and Yulia Svyrydenko, Ukraine’s First Deputy Prime Minister and Minister of Economic Development and Trade.

Once implemented, the UAEUkraine CEPA will remove or reduce of tariffs on key product lines, remove unnecessary barriers to trade and promote fair market access to exporters from both sides. Importantly, it will support Ukraine’s recovery and the rebuilding of key industries and infrastructure, while also helping to strengthen supply chains to the MENA region for major exports such as grains, machinery and metals.

On the conclusion of negotiations, Zeyoudi said, “Ukraine is a bridge to Europe for our exporters and an important ally in our food security imports. Once implemented, the CEPA will offer Ukraine’s industrialists and entrepreneurs a new platform from which they can expand into the growth markets of Asia and Africa through the UAE.”

Yulia said, “The conclusion of CEPA negotiations between Ukraine and the UAE marks a historic milestone in our bilateral relations. I am confident that the Ukrainian and Emirati business communities will fully capitalise on the opportunities presented by the Ukraine-uae CEPA.”