Thursday, May 23, 2024
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Clear CEPA terms Between the UAE and Ukraine will Increase non-Oil Foreign Commerce.

Once in effect, the UAE-Ukraine CEPA will eliminate or lower tariffs on important product lines, do rid of pointless trade restrictions, and encourage equal market access for exporters on both sides.

“Ukraine is a bridge to Europe for our exporters and an important ally in our food security imports,” declared Al Zeyoudi after the agreements were concluded. Following its implementation, the CEPA will provide industrialists and entrepreneurs in Ukraine with a new platform to penetrate Asia and Africa’s growing markets via the United Arab Emirates. It will also open up new investment avenues that have the potential to reconstruct vital infrastructure and reconstitute industries like manufacturing, logistics, and information technology.

“We look forward to the ratification of the deal and the new opportunities it will create for the business communities on both sides,” he continued. “The agreement will play an active role in revitalizing the Ukrainian economy.”

“The conclusion of CEPA negotiations between Ukraine and the UAE marks a historic milestone in our bilateral relations,” stated Yulia Svyrydenko in the meantime. I do not doubt that the business community in Ukraine and the United Arab Emirates will seize all of the chances provided by the CEPA, enabling us to realize the tremendous potential of our trade and economic collaboration.

The UAE and Ukraine traded $385.8 million in non-oil goods in 2023. At the end of 2022, their combined foreign direct investment (FDI) stock was at $360 million, spanning industries such as advanced technology, travel and tourism, and logistics and infrastructure.

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Thursday, May 23, 2024

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