UAE Signs CEPA with Eurasian Economic Union to Strengthen Trade and Investment Ties
Andrey Slepnev, Minister in charge of Trade at the Eurasian Economic Commission, described the deal as a strategic milestone that will enhance trade diversification and expand mutual investment flows. The agreement significantly reduces customs duties on over 85% of goods exchanged, aiming to boost economic cooperation across key sectors.
Trade between the UAE and EAEU countries has grown rapidly in recent years. The Union's exports to the UAE have quadrupled in two years, while Emirati exports to EAEU markets have risen by over 50%. The UAE now ranks among the Union's top ten global trading partners, accounting for two percent of its total foreign trade.
Under the agreement, customs duties on EAEU products in the UAE will drop from 5% to 0.6%, while duties on UAE exports to the Union will fall from 5.9% to 1.5%. Key goods covered include metals, petrochemicals, transport equipment, and agricultural products from the EAEU, and polymers, cosmetics, and appliances from the UAE.
Slepnev highlighted the UAE's growing role as a trade hub for EAEU countries, surpassing traditional partners such as Japan and Brazil. With access to a market of over 180 million people, Emirati businesses stand to gain from broader market access and shifting global trade dynamics.
He added that the UAE's position along the North-South transport corridor strengthens its role as a regional transit hub, linking the EAEU to the Gulf, India, and South Asia.
News Source: Emirates News Agency
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