UAE and Ukraine Conclude Comprehensive Economic Partnership Agreement Negotiations
The UAE and Ukraine have finalized negotiations on a Comprehensive Economic Partnership Agreement (CEPA).
Which is aiming to boost non-oil trade to AED 4 trillion by 2031.
Moreover, the agreement will eliminate or reduce tariffs on key products.
In addition, it will remove trade barriers, and enhance market access for exporters from both countries.
Ukraine Recovery
The UAE and Ukraine CEPA will also support Ukraine’s recovery and reconstruction efforts and strengthen supply chains to the MENA region.
Mentioning that Ukraine is a gateway for UAE exports to Europe and a key source of food security imports.
The CEPA will provide Ukrainian businesses with a platform to expand into Asian and African markets.
While opening new investment opportunities.
The Ukrainian economy will also be revitalized by creating new opportunities for both countries’ business communities.
Expand the UAE Global Trade Network
The CEPA is the latest step in the UAE’s efforts to expand its network of global trade partners.
Mentioning that the UAE has already signed 14 CEPA agreements with countries around the world.
The CEPA with Ukraine is expected to enter into force after it is formally signed and ratified by both countries.
Continuous field efforts and diligent work throughout the emirates of the country to complete the recovery phase. pic.twitter.com/TcAH7eLWaX
— UAE Voice (@uae_voiceeng) April 29, 2024
However, the CEPA covers a wide range of sectors, including goods, services, investment, and intellectual property.
And it will increase bilateral trade and investment flows and promote cooperation in areas such as agriculture, technology, and tourism.
The UAE and Ukraine CEPA is a testament to the UAE’s commitment to open trade and economic cooperation.
It is also a valuable tool that will help both countries to achieve their economic goals.
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