The United Arab Emirates (UAE) has set a significant goal to enhance its non-oil foreign trade to AED4 trillion ($1.09 trillion) by 2031. This objective is a key element of the “We the UAE 2031” vision, which aims to diversify the country’s economy away from oil dependency. As part of this initiative, the UAE launched the Comprehensive Economic Partnership Agreement (CEPA) program in September 2021, resulting in 26 agreements with strategically important countries and international blocs.

In 2024, the UAE achieved a remarkable 75 percent of its AED4 trillion target, reaching AED3 trillion in non-oil foreign trade. This figure represents a notable annual increase of 14.6 percent compared to 2023, indicating strong economic growth despite global trade challenges. Dr. Thani bin Ahmed Al Zeyoudi, the Minister of State for Foreign Trade, highlighted that this achievement places the UAE on track to meet its ambitious goals with seven years still remaining.

In 2025 alone, the UAE signed five new CEPA agreements with Malaysia, New Zealand, Kenya, Ukraine, and the Central African Republic. These agreements are anticipated to significantly broaden the UAE’s global trade network, creating new opportunities for its private sector across dynamic economies. Key sectors benefiting from these agreements include logistics, renewable energy, advanced technology, financial services, and sustainable agriculture.

Currently, six of the UAE’s CEPA agreements have come into effect, with 14 others signed and awaiting ratification. Negotiations on six additional agreements have been concluded, and formal signing is expected soon, further expanding the UAE’s trade partnerships.

Dr. Al Zeyoudi pointed out that non-oil exports reached a record AED561.2 billion in 2024, a 27.6 percent increase, nearly achieving the AED800 billion target set for 2031. This growth has increased the share of non-oil exports in total trade from 16.8 percent in 2023 to 18.7 percent, illustrating a positive trend in the UAE’s economic diversification efforts.

The CEPA program has already had a positive impact, with total exports to CEPA partner countries reaching AED135 billion in 2024, reflecting a 42.3 percent increase. Notably, non-oil trade with India surged by 20.5 percent, while trade with Turkey and Indonesia also experienced significant growth. The re-export sector additionally reported gains, amounting to AED734.4 billion, a 7.3 percent increase from the previous year.

Looking ahead, the CEPA program will continue to play a crucial role in driving trade and investment growth in the UAE. Ongoing negotiations with major economies, including Japan, are expected to conclude before the end of 2025. With these developments, the UAE is set to reinforce its position as a global trade and investment hub, aiming to achieve its “We the UAE 2031” vision ahead of schedule.