UAE and Ukraine Sign Historic CEPA: A Gateway to Europe
The United Arab Emirates (UAE) and Ukraine have recently concluded a Comprehensive Economic Partnership Agreement (CEPA), marking a significant milestone in their bilateral trade relations. This agreement aims to enhance trade by removing or reducing tariffs on a wide range of goods and products, breaking down trade barriers, and facilitating market access for exporters from both countries. The non-oil trade between the UAE and Ukraine has been growing steadily, reaching $385.8 million in 2023. Additionally, joint investment between the two nations stood at around $360 million by the end of 2022, spanning sectors such as logistics, infrastructure, travel, tourism, and advanced technology. One of the key benefits of this CEPA is the potential for the UAE to establish a gateway to Europe through Ukraine. This would expand the UAE's trade relations beyond the Middle East and provide a strategic advantage in terms of market access. The agreement is expected to cover not onl...