(MENAFN) The UAE and Ukraine have recently finalized the terms of a Comprehensive Economic Partnership Agreement, aiming to revitalize Ukraine's economy following its two-year conflict with Russia. The agreement, as reported by state news agency Wam on Monday, encompasses various benefits, including tariff reduction on key products and the elimination of trade barriers to foster equitable market access.
Additionally, the deal seeks to facilitate Ukraine's economic recovery by bolstering crucial sectors and infrastructure, while enhancing its supply chain to Middle Eastern and North African markets for major exports like grains, machinery, along with metal. Notably, this agreement marks the UAE's 15th Cepa, reflecting its commitment to fostering economic ties globally across Africa, Asia, Europe, and South America.
Of the eleven signed agreements, countries include India, Turkey, Israel, Indonesia, Cambodia, Georgia, Mauritius, Kenya, the Republic of Congo, Colombia, and Costa Rica. Currently, the UAE is engaged in negotiations with Serbia, Vietnam, the Philippines, New Zealand, and Ecuador, with talks already completed with South Korea.
Dr. Thani Al Zeyoudi, Minister of State for Foreign Trade, highlighted that the implementation of the latest Cepa will provide Ukraine's business community with an advantageous platform to access promising markets in Asia and Africa via the UAE.
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