UAE And Central African Republic CEPA Aims To Boost Trade Beyond AED 3.67 Billion

The Comprehensive Economic Partnership Agreement (CEPA) between the UAE and the Central African Republic signifies a strategic move towards enhancing trade and investment ties globally. Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, emphasised this agreement's role in supporting the UAE's economic diversification and sustainable development goals.

Dr. Al Zeyoudi highlighted that non-oil trade between the two nations has been on an upward trajectory, surpassing AED925 million in 2024. This growth underscores the expanding trade exchanges between the UAE and the Central African Republic, reflecting their commitment to strengthening economic relations.

The CEPA ensures significant trade liberalisation, with the UAE removing tariffs on 98 percent of goods from the Central African Republic. In return, the Central African Republic offers a 99.5 percent tariff removal for UAE exports. This arrangement presents substantial opportunities for Emirati exporters to penetrate the African market further.

Dr. Al Zeyoudi also noted that this partnership opens up extensive investment opportunities across various service sectors such as telecommunications, hospitality, logistics, and financial technology. It also enhances cooperation in strategic sectors like aluminium, ceramics, petrochemicals, iron, silver, gold, food products, and textiles.

The agreement aims to foster collaboration in future economic sectors like digital economy and advanced technology. It also creates new opportunities for small and medium enterprises (SMEs) in both countries by facilitating integrated investment projects in upcoming phases.

This partnership is expected to boost bilateral trade beyond AED3.67 billion over five to seven years. It will serve both nations' interests by creating growth opportunities for business communities in each country.

Strengthening Bilateral Relations

Dr. Al Zeyoudi stressed that this agreement will strengthen bilateral trade and investment relations while accelerating growth in priority sectors. It will create job opportunities, enhance supply chains, and expand the UAE’s global trade network into new markets for mutual benefit.

The CEPA reflects a commitment to advancing collaboration in future economic sectors while supporting SMEs and launching integrated investment projects. This comprehensive approach aims to drive sustainable development and economic diversification for both countries.

With inputs from WAM