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UAE and Central African Republic Ratify Historic Trade Agreement

 

UAE and Central African Republic Ratify Historic Trade Agreement

In a recent phone conversation, President Sheikh Mohamed bin Zayed Al Nahyan and President Faustin Archange Touadéra of the Central African Republic reaffirmed their dedication to strengthening bilateral cooperation in key sectors, including trade, investment, renewable energy, and infrastructure.

A key outcome of their discussion was the ratification of the Comprehensive Economic Partnership Agreement (CEPA), a significant trade deal originally signed on March 6th during President Touadéra’s UAE visit. This agreement is anticipated to drive bilateral trade by AED 3.67 billion over the next five to seven years, fostering long-term economic growth.

Dr. Thani bin Ahmed Al Zeyoudi, UAE’s Minister of State for Foreign Trade, highlighted that CEPA will eliminate tariffs on over 98% of exports, opening new pathways for economic collaboration and investment opportunities.

Beyond trade and economic matters, the two leaders also discussed regional and global affairs, emphasizing their shared commitment to political stability and economic resilience.

The phone call reinforced the deepening diplomatic ties between the two nations and their continued efforts toward achieving sustainable development goals, ensuring a prosperous future for both countries.

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