UAE + Ukraine ink CEPA: The UAE and Ukraine have inked a comprehensive economic partnership agreement (CEPA) slashing tariffs on nearly all traded goods, state news agency Wam reports. The agreement removes customs duties from 99% of Ukrainian imports of UAE goods and 97% of Ukrainian exports to the UAE. Negotiations for the agreement wrapped up in April 2024.

The economic impact? By 2031, the agreement is projected to boost the UAE’s GDP by USD 369 mn and Ukraine’s by USD 874 mn. The partnership will focus on infrastructure, heavy industry, aviation, aerospace, and IT.

Background: The UAE’s non-oil foreign trade soared 14.6% y-o-y to AED 3 tn last year, with CEPAs contributing AED 135 bn to non-oil exports. The UAE is pushing to hit AED 4 tn in annual foreign trade by 2031, with 75% of that goal already locked in.

Meanwhile, President Mohamed bin Zayed Al Nahyan met with Ukrainian President Volodymyr Zelenskyy to strengthen ties in investment, renewable energy, and food security, Wam reports. They also touched on the UAE’s role in mediating prisoner exchanges between Ukraine and Russia, with one exchange taking place earlier this month.

UAE Deputy PM and Interior Minister Saif bin Zayed Al Nahyan engaged in key security talks with various Arab and international counterparts on the sidelines of the Council of Arab Interior Ministers in Tunisia, including:

  • Libyan Acting Interior Minister Major General Imad Al-Tarabulsi to discuss enhancing bilateral security cooperation. (Wam)
  • Jordanian Interior Minister Mazen Al Faraya to explore expanding security coordination. (Wam)
  • Bahraini Interior Minister Lieutenant General Sheikh Rashid bin Abdullah Al Khalifa to discuss security coordination, joint efforts against regional threats, and supporting sustainable development. (Wam)
  • Egyptian Interior Minister Major General Mahmoud Tawfik on counterterrorism, intelligence sharing, and joint security initiatives. (Wam)
  • Portuguese Interior Minister Margarida Blasco on enhancing Arab-European security relations, focusing on organized crime and law enforcement knowledge exchange. (Wam)
  • Kuwaiti Defense Minister Sheikh Abdullah Ali Al Sabah to discuss regional security developments and strengthen Gulf defense coordination. (Wam)
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