UAE-Ukraine Trade Deal to Drive Multi-Billion Dirham Economic Growth
Starting July 1, the Comprehensive Economic Partnership Agreement (CEPA) between the UAE and Ukraine will officially take effect, marking a major milestone in bilateral trade relations. By slashing or entirely removing tariffs on a vast array of goods and services, the pact is set to streamline market access for businesses in both countries. Specifically, the agreement grants immediate duty-free status to 99 percent of Emirati goods entering Ukraine and 97 percent of Ukrainian exports heading to the UAE. Economic projections are optimistic, with estimates suggesting the deal will inject Dh1.35 billion into the UAE’s GDP and over Dh3.2 billion into Ukraine’s economy by 2031.
This partnership is strategically designed to revitalize non-oil trade, which saw a peak of $904.4 million in 2021 before fluctuating in recent years. Dr. Thani bin Ahmed Al Zeyoudi, the UAE Minister of Foreign Trade, emphasized that the CEPA is a tool for fostering long-term collaboration and opening fresh investment avenues. As the UAE continues to aggressively expand its global trade network—aiming for a total trade volume of $1 trillion by 2031—this deal stands as a key component of that vision. With 17 agreements now active, the UAE continues to solidify its position as a central hub in the international marketplace.