By KYIV. Dec 5 (Interfax-Ukraine) – Ukraine and the United Arab Emirates (UAE) have announced their intention to conclude a Comprehensive Economic Partnership Agreement (CEPA), a joint statement was signed on Monday by First Deputy Prime Minister Yulia Svyrydenko and Minister of State for Foreign Trade Thani bin Ahmed Al Zeyoudi, the press service of the Ministry of Economy reports.
"The Comprehensive Economic Partnership Agreement with the UAE will unleash the full potential of our cooperation in trade and investment, thereby helping our business communities develop and seize new opportunities," Svyrydenko said.
According to Al Zeyoudi, Ukraine has become the first European state with which the UAE intends to conclude the CEPA, which underlines the importance of Ukraine as a long-term trade and investment partner.
The press release states that negotiations between Ukraine and the UAE on the CEPA conclusion have already begun. From the Ukrainian side, the negotiating group is headed by Deputy Minister of Economy – Trade Representative Taras Kachka, who was present during the event in Dubai.
Over 2021, the volume of bilateral trade in goods and services between the countries increased to a record high of $1.147 billion, of which over 50% is agricultural products and another 30% is metallurgy. The volume of UAE investments in the Ukrainian economy reached $243.3 million last year.
