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UAE-Ukraine Cepa marks another milestone in Gulf state’s efforts to improve non-oil foreign trade

According to official sources, the United Arab Emirates and Ukraine have finalized the details of a Comprehensive Economic Partnership Agreement (Cepa), marking the latest development in the Gulf state's aspirations to broaden its network of commercial partners across international markets.

By 2031, the UAE wants to increase the amount of its non-oil overseas trade to Dh4 trillion. A joint statement was signed by Yulia Svyrydenko, the first deputy prime minister and minister of economy of Ukraine, and Dr. Thani bin Ahmed Al Zeyoudi, the minister of state for foreign trade for the United Arab Emirates.


The ambitious UAE-Ukraine Cepa is anticipated to remove or significantly lower tariffs on important product lines, eliminate needless trade barriers, and encourage equitable market access for exporters on both sides once it is put into effect.

"Ukraine provides our exporters with a bridge to Europe."
In general, the agreement is expected to assist Ukraine recover and rebuild its key infrastructure and industries. It will also strengthen the country's supply chains for significant exports including machinery, metals, and cereals to the large Mena region.

"The conclusion of the Cepa negotiations... marks a historic milestone in our bilateral relations," stated Yulia Svyrydenko. I have no doubt that the business communities in Ukraine and the United Arab Emirates will take full advantage of the prospects provided by the Ukraine-UAE CEPA.

Both nations exchanged a substantial $385.8 million in non-oil commerce last year. By the end of 2022, their combined Foreign Direct Investment (FDI) stock would have grown to $360 million, with investments coming from a variety of industries, including travel and tourism, logistics, and infrastructure.

Adding to the already 14 Cepas, the UAE-Ukraine Cepa
"Ukraine is a bridge to Europe for our exporters and an important ally in our food security imports," Thani Al Zeyoudi stated in his statement. The Cepa will provide industrialists and business owners in Ukraine with a new platform upon which to grow once it is put into effect.
The minister also stated that the UAE anticipates the agreement's ratification and the significant prospects it will likely present for both parties, and that the accord is poised to actively contribute to the revitalization of Ukraine's economy.
It's interesting to note that the UAE-Ukraine Cepa's finalized conditions join the 14 other Cepas that have either previously been officially signed, come into effect, or have been effectively bargained with key markets on the map of international trade.
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