The United Arab Emirates and Ukraine have signed a joint statement announcing their intention to launch negotiations towards a Comprehensive Economic Partnership Agreement (CEPA).

Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, and Yulia Svyridenko, Ukraine’s Minister of Economy and First Deputy Prime Minister of Ukraine, signed the statement.

The signing reaffirms the commitment of both countries to strengthen bilateral economic ties and build strong trade and investment flows between the UAE and Ukraine. In 2021, non-oil trade between the UAE and Ukraine is set to reach $904.4 million, an increase of 28.4% over the same period in 2020 and 12.2% over 2019.


UAE investments in Ukraine will reach approximately $243.3 million in 2021, with Ukrainian investments in the UAE totaling $84 million in 2020.

The announcement of the CEPA talks follows more than $3 billion in trade and investment pledges made during Ukrainian President Volodymyr Zelensky’s visit to the UAE in February 2021. It also represents another key component in the UAE’s efforts to help rejuvenate Ukraine’s national economy. , which is one of the Middle East’s most important sources of grains such as barley and wheat.

Dr. Al Zeyoudi noted that the UAE’s first CEPA with a European nation demonstrates the breadth of its new foreign trade agenda and underlines the long-term importance of Ukraine to the UAE as a trade and investment partner.

flurry of new opportunities

“The CEPA with Ukraine offers a range of new opportunities for our exporters, investors and manufacturers, as well as opens access to new markets in Asia, Africa and the Middle East for Ukrainian agricultural and industrial production. We are committed to negotiating a win-win deal with Ukraine that can not only help drive Ukraine’s economic recovery but also foster long-term growth and opportunity,” Al Zeyoudi said.

Svyridenko said: “The conclusion of the CEPA between Ukraine and the UAE will unlock the full potential of our cooperation in trade and investment, helping our business communities grow and take advantage of new opportunities. The UAE has become a major international trade and logistics hub. hub. At the same time, Ukraine is well known for its role as a global food security guarantor and growing IT powerhouse. It complements our economies, and we look forward to promoting trade, Look forward to working together to facilitate the digital economy as well as our investment cooperation.

The UAE’s CEPA negotiations with Ukraine will begin in the coming weeks and will be followed by the conclusion of CEPAs with India, Indonesia and Israel. CEPA negotiations are ongoing with Turkey, Georgia and Cambodia.– TradeArabia News Service

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