UAE President Sheikh Mohamed bin Zayed Al Nahyan and Ukraine President Volodymyr Zelenskyy of Ukraine attended the signing of the Comprehensive Economic Partnership Agreement (CEPA) between the UAE and Ukraine.
This newly established partnership is designed to create fresh opportunities for commercial exchange, capital flows, and economic collaboration between the two countries. Sheikh Mohamed bin Zayed Al Nahyan emphasized how CEPA serves to reinforce the strategic relationship between the UAE and Ukraine, while promoting trade growth and economic ties that align with both nations’ development goals.
Sheikh Mohamed conveyed his strong belief that this partnership would serve as a key driver in strengthening economic bonds and investment opportunities between the UAE and Ukraine, leading to shared economic benefits and development. He also reaffirmed the UAE’s dedication to building meaningful collaborations that promote long-term, sustainable growth for both nations.
The agreement was signed during a formal ceremony at Qasr Al Shati by UAE’s Minister of State for Foreign Trade, Dr Thani bin Ahmed Al Zeyoudi, and Ukraine’s First Deputy Prime Minister and Minister of Economy, Yulia Svyrydenko. The deal provides nearly complete elimination of customs duties, covering 99% of UAE goods entering Ukraine and 97% of Ukrainian exports to the UAE. Economic projections suggest this will boost the UAE’s GDP by $369 million and Ukraine’s GDP by $874 million by 2031.
Additionally, it will support Ukraine’s economic recovery and create new opportunities for collaboration in sectors such as infrastructure, heavy industry, aviation, aerospace, and information technology.
The Bilateral trade between the two nations reached $372.4 million in 2024. The Comprehensive Economic Partnership Agreement aligns with the UAE’s strategy to diversify its international trade partnerships and broaden investment opportunities across sectors. The UAE has set an ambitious target to grow its non-oil trade to $1.1 trillion by 2031, reflecting the central role of international trade in its economic vision.
Since initiating its global trade agenda, have secured 24 Comprehensive Economic Partnership Agreements with important trading partners worldwide. These agreements encompass markets with a combined population of 2.5 billion people, representing 25% of the global population. The partnerships are spurring development in vital sectors including logistics, clean and renewable energy, advanced technology, and sustainable food systems.
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