(MENAFN- Khaleej Times) The UAE on Friday signed a Comprehensive Economic Partnership Agreement (Cepa) with Georgia.
This makes the European nation the fifth country with whom the UAE has signed a Cepa, the others being India, Indonesia, Israel and Turkey.
The agreement was signed by Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, and Levan Davitashvili, Georgia's Deputy Prime Minister and Minister of Economy and Sustainable Development.
The UAE-Georgia Cepa holds huge potential. In 2022, bilateral non-oil trade reached $468 million, an upswing of 110 per cent over 2021 and 63 per cent of Georgia's trade with the entire Arab world.“We can now pursue exciting opportunities in agriculture, transportation, tourism, renewable energy and digital trade – and open new markets for our exporters and entrepreneurs,” Al Zeyoudi said in a statement.
On the sidelines of the signing ceremony, the ministers also inaugurated the first ever UAE-Georgia Business Forum, which aims to ensure that the private sectors of the two countries are able to capitalise on this massive opportunity.
“This will be our fifth Cepa – and the programme continues to go from strength to strength. From North to South, East to West, we remain committed to reimagining modern trade,” Al Zeyoudi said.
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