On Monday, President His Highness Sheikh Mohamed bin Zayed Al Nahyan of the UAE and President Volodymyr Zelenskyy of Ukraine witnessed the signing of the Comprehensive Economic Partnership Agreement (CEPA) between their countries. This agreement aims to create new opportunities for trade, investment, and economic collaboration.

His Highness emphasized the importance of this agreement in reinforcing the strategic ties between the UAE and Ukraine. He stated that it would enhance bilateral trade and promote economic cooperation in line with the aspirations of both nations. The UAE President expressed confidence that this agreement would significantly deepen economic and investment relations, contributing to mutual growth and prosperity. He also reiterated the UAE’s commitment to fostering sustainable development through strengthened partnerships.

President Zelenskyy highlighted the CEPA’s potential to expand economic cooperation between Ukraine and the UAE, which would benefit both nations and their citizens. The agreement was formally signed at Qasr Al Shati by His Excellency Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, and Her Excellency Yulia Svyrydenko, First Deputy Prime Minister and Minister of Economy of Ukraine.

Under the terms of the agreement, 99 percent of Ukrainian imports of UAE goods and 97 percent of Ukrainian exports to the UAE will be exempt from customs duties, effective immediately. This move is expected to boost economic activity significantly, contributing an estimated $369 million (AED 1.355 billion) to the UAE’s GDP and $874 million (AED 3.209 billion) to Ukraine’s GDP by 2031. Additionally, it is anticipated to facilitate Ukraine’s economic recovery and foster new opportunities in sectors such as infrastructure, heavy industry, aviation, aerospace, and information technology.

Since launching its global trade agenda, the UAE has signed 24 Comprehensive Economic Partnership Agreements with key regional and global trade partners, covering markets that collectively account for approximately 2.5 billion people, or one-quarter of the world’s population. These agreements are set to drive growth in critical sectors such as logistics, clean and renewable energy, advanced technology, and sustainable food systems.