UAE Minister Al Zeyoudi Engages With Australian Business Council On CEPA Opportunities

Dr. Thani bin Ahmed Al Zeyoudi, the UAE Minister of Foreign Trade, recently engaged with the Australian Business Council in the UAE. The discussion centred on how the private sector can capitalise on opportunities from their Comprehensive Economic Partnership Agreement (CEPA). This meeting highlights ongoing efforts to maximise CEPA's benefits, signed last November, and to enhance collaboration between both countries.

The UAE's CEPA programme is integral to its growth strategy, aiming for US$1.1 trillion in non-oil trade by 2031. It also seeks to double export values to US$800 billion. Agreements under this programme cover regions like the Middle East, Africa, Southeast Asia, South America, and Eastern Europe, impacting nearly a quarter of the global population.

During the meeting, Dr. Al Zeyoudi highlighted Australia's role as a crucial trading partner. He noted that the UAE's non-oil trade with Australia surpassed US$4.2 billion in 2024. In the first half of 2025 alone, this figure rose to US$3.03 billion, marking a significant 33.4% increase year-on-year.

The CEPA marks Australia's first trade agreement with a Middle Eastern and North African country. It significantly enhances the UAE’s foreign trade strategy and global presence. Over 300 Australian businesses operate in various sectors within the UAE, including construction, financial services, agriculture, and education.

Dr. Al Zeyoudi reaffirmed the UAE's dedication to strengthening economic ties with Australia for mutual growth and prosperity. "The UAE is Australia’s leading trade and investment partner in the Middle East and its 20th largest partner globally," he stated.

The UAE has also signed an investment protection agreement alongside five memorandums of understanding. These agreements aim to boost capital flow into key sectors such as renewable energy, infrastructure, AI, mining, and agriculture.

CEPA Implementation Goals

"When the CEPA comes into force," Dr. Al Zeyoudi noted, "we aim to create a range of opportunities for our respective businesses, investors, and entrepreneurs." By reducing tariffs and lifting trade barriers, they hope to triple trade from US$4.2 billion in 2024 to US$10 billion by 2032.

Australia exports a wide variety of products to the UAE including alumina, coal, steel, meat, dairy products, and seafood. The potential for growth remains substantial given these diverse offerings.

The UAE-Australia CEPA is currently undergoing ratification by both parties involved. This agreement is expected to further solidify economic relations between these two nations.

With inputs from WAM