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United Arab Emirates: Great Success in Negotiations with EAEU on Economic Partnership Agreement

12/12/2024
6 minutes

Thanks to the agreement with the United Arab Emirates, exporters from the five countries of the Eurasian Economic Union will have access to competitive and fast-growing markets not only in the Middle East, but also in Africa, Asia, and Latin America

Thani bin Ahmed Al-Zeyoudi

Emirates Minister of Foreign Trade Thani bin Ahmed Al Zeyoudi (pictured) announced that the United Arab Emirates and the Eurasian Economic Union (EAEU) have finalized negotiations on a global Economic Partnership Agreement (EPA). According to the Arab Emirates news agency WAM, the agreement “aims to strengthen bilateral trade exchanges between the Persian Gulf country and the five EAEU members: Armenia, Belarus, Kazakhstan, Kyrgyzstan, and Russia.”

The current situation and prospects for trade between the United Arab Emirates and the Eurasian Economic Union were analyzed during some special sessions of the Verona Eurasian Economic Forum, which was held in Ras Al Khaimah from December 5 to 6, 2024.

“With a combined population of some 200 million people and a GDP approaching $5 trillion, the EAEU offers a rich seam of opportunity for our private sector, while the UAE and its growing network of global trade partners offers EAEU exporters streamlined access to the competitive, high-growth markets in the Middle East, Africa, Asia, and South America. This agreement deepens vital links between the Gulf and Eurasia region, and we look forward to seeing the tangible benefits our deeper ties unfold,” Minister Al Zeyoudi said.