President His Highness Sheikh Mohamed bin Zayed Al Nahyan and His Excellency Volodymyr Zelenskyy, President of Ukraine, at present attended the signing of the Complete Financial Partnership Settlement (CEPA) between the UAE and Ukraine.
The settlement goals to unlock new avenues for commerce, funding, and financial collaboration between the 2 nations.
His Highness highlighted the importance of the settlement in strengthening the strategic ties between the UAE and Ukraine, advancing bilateral commerce, and elevating financial cooperation in keeping with each international locations’ aspirations.
His Highness expressed confidence that the settlement would play a pivotal function in deepening financial and funding relations between the 2 international locations, thereby contributing to mutual development and prosperity. He reiterated the UAE’s dedication to strengthening partnerships in efforts to foster sustainable improvement.
His Excellency President Zelenskyy, for his half, underscored the function of the settlement in increasing financial cooperation between Ukraine and the UAE, benefiting each nations and their peoples.
The settlement was signed throughout a proper ceremony at Qasr Al Shati by His Excellency Dr Thani bin Ahmed Al Zeyoudi, UAE Minister of State for International Commerce, and Her Excellency Yulia Svyrydenko, First Deputy Prime Minister and Minister of Financial system of Ukraine.
Underneath the phrases of the CEPA, 99 % of Ukrainian imports of UAE items and 97 % of Ukrainian exports to the UAE can be exempt from customs duties with quick impact.
The settlement is predicted to contribute US$369 million to the UAE’s GDP and US$874 million to Ukraine’s GDP by 2031. It is going to additionally speed up Ukraine’s financial restoration and create new alternatives for cooperation in sectors comparable to infrastructure, heavy trade, aviation, aerospace, and data expertise.
Ukraine holds strategic significance for the UAE, with bilateral commerce between the 2 international locations reaching US$372.4 million in 2024.
The CEPA is a part of the UAE’s broader efforts to develop its world commerce partnerships and improve funding alternatives throughout a number of sectors. Worldwide commerce stays a cornerstone of the UAE’s financial technique, with a aim of accelerating non-oil commerce to AED4 trillion (US$1.1 trillion) by 2031.
Since launching its world commerce agenda, the UAE has signed 24 Complete Financial Partnership Agreements with key regional and world commerce companions, masking markets dwelling to roughly 2.5 billion folks—one-quarter of the world’s inhabitants. These agreements are driving development in vital sectors comparable to logistics, clear and renewable vitality, superior expertise, and sustainable meals techniques.
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