UAE + Ukraine wrap up trade talks: Foreign Trade Minister Thani bin Ahmed Al Zeyoudi and Ukraine’s Minister of Economic Development and Trade Yulia Svyrydenko concluded negotiations yesterday on a comprehensive economic partnership agreement (CEPA) between the two countries, Wam reports.

The agreement is set to eliminate or reduce tariffs and aims to remove trade barriers and improve market access for exporters from both countries in sectors such as grains, machinery, metals, logistics, manufacturing, and IT.

Fast facts: Non-oil trade between the UAE and Ukraine amounted to USD 385.8 mn in 2023, while joint foreign direct investment stock reached USD 360 mn by the end of 2022. The UAE has inked a total of 14 trade agreements across various regions, in a bid to expand its network of trading partners and edge non-oil foreign trade to AED 4 tn by 2031.

Iran and Cuba are looking to construct vessels to meet the maritime transport needs of South American nations, Mehr reports, citing Iran's Ports and Maritime Organization (PMO). Iran has invested IRR 100 tn in construction and infrastructure at ports over the past year, PMO head Ali-Akbar Safaei told the outlet. The two countries have agreed to establish sister ports to boost shipping and trade between them as they look to boost cooperation in maritime, air, and rail transportation, as well as streamline the export of Cuban products and cargoed using Iranian ports and shipping services.

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