UAE and Azerbaijan sign CEPA deal to boost $2.4bn trade ties
The agreement was signed in the presence of UAE President Sheikh Mohamed bin Zayed Al Nahyan and President Ilham Aliyev of the Republic of Azerbaijan.
Sheikh Mohamed described the deal as a 'significant milestone' that reflects the shared vision of both countries to build a resilient, knowledge-based, and innovation-driven economy.
UAE- Azerbaijan trade deal
Signed by Dr Thani bin Ahmed Al Zeyoudi, UAE Minister of Foreign Trade, and Mikayil Jabbarov, Minister of Economy of Azerbaijan, the CEPA will:
Enhance investment flows across key sectors including renewable energy, tourism, logistics, and construction
Strengthen private sector collaboration and global supply chains
Empower SMEs and entrepreneurs to expand into new markets
The United Arab Emirates is Azerbaijan's leading Arab investor, with total investments exceeding $1bn. In 2024, bilateral non-oil trade surged by 43 per cent year-on-year, reaching $2.4bn, reinforcing the country's position as one of Azerbaijan's top trading partners.
The agreement is part of the UAE's ambitious CEPA programme, which aims to expand non-oil foreign trade to $1.1tn by 2031.
In 2024, the UAE's non-oil trade hit a record $816bn, marking a 14.6 per cent year-on-year increase.
To date, the United Arab Emirates has signed 27 CEPA agreements with global markets, giving businesses enhanced access to economies representing more than a quarter of the world's population.
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