UAE Australia CEPA Drives Deeper Trade And Investment Through Second JEC Meeting

The UAE and Australia are advancing economic ties after holding the second Joint Economic Committee in Dubai, where officials reviewed trade performance, assessed the impact of their Comprehensive Economic Partnership Agreement, and agreed fresh steps to ease business flows and expand investment between the two markets and across the wider Middle East region.

Non-oil trade between the UAE and Australia has risen strongly, underlining the importance of the Joint Economic Committee process. Trade reached US$4.21 billion in 2024, matching 2023 levels while remaining 19 percent higher than in 2021. During the first nine months of 2025, non-oil trade climbed to US$4.3 billion, up 32.4 percent year-on-year versus 2024.

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The meeting was co-chaired by Dr. Thani Al Zeyoudi, Minister of Foreign Trade, and Don Farrell, Australia’s Minister of Trade and Tourism. It was the second Joint Economic Committee between the two countries. Officials used the session to monitor how the Comprehensive Economic Partnership Agreement is working and to agree on priorities for the next phase of UAE-Australia cooperation.

The UAE and Australia signed their Comprehensive Economic Partnership Agreement in November 2024. The agreement entered into force in October last year. The Joint Economic Committee is intended to ensure both governments adjust policies, where needed, so companies can use the agreement more effectively across goods, services and investment flows.

Speaking at the Joint Economic Committee, Al Zeyoudi said both sides want their private sectors to fully benefit from CEPA. Al Zeyoudi stated, "The UAE and Australia share numerous avenues for mutually beneficial cooperation. Today’s JEC meeting allowed us to explore trade and investment opportunities as well as discuss ways to remove obstacles to trade and investment and facilitate business between our two countries."

Al Zeyoudi also urged Australian companies to engage more deeply with the UAE market, pointing to opportunities in high-growth fields such as artificial intelligence, renewable energy, agriculture, space and advanced technology. Al Zeyoudi underlined the UAE’s regulatory framework, infrastructure, banking and financial services, and its geographic position linking trading routes between east and west.

UAE-Australia trade priorities, sectors and SMEs

Farrell highlighted the importance of the Joint Economic Committee to Australia’s engagement with the UAE and wider region. Farrell said, "Co-Chairing the second JEC with Al Zeyoudi is a significant step in deepening Australia and the UAE’s dynamic economic relationship. We explored new opportunities across priority sectors to grow trade, investment and innovation. Australia’s newest trade agreement, the Australia-UAE Comprehensive Economic Partnership Agreement (CEPA), is creating enormous opportunities for our farmers, producers and exporters to access this thriving market. The UAE is our largest trading partner in the Middle East and serves as a gateway for Australia’s exports to the broader region and beyond. I encourage businesses and investors to make the most of the golden opportunity offered by CEPA."

For his part, Fahad Al Gergawi, Under-Secretary of the Ministry of Foreign Trade, explained that the Joint Economic Committee seeks to strengthen trade and investment collaboration and to support small and medium-sized enterprises from both sides. Al Gergawi said the committee also promotes joint investments in sectors such as technology, agriculture and food security, transport, infrastructure, logistics and tourism.

UAE-Australia trade data and institutional participation

The latest Joint Economic Committee included representatives from a wide range of UAE government entities and national companies. Attendees came from the Ministry of Industry and Advanced Technology, the Ministry of Finance, the Ministry of Climate Change and Environment, the Abu Dhabi Department of Economic Development, and the Department of Economy and Tourism in Dubai, alongside several major business groups.

Also present were the Federation of UAE Chambers of Commerce and Industry, DMCC, Emirates Airline, Etihad Rail, Agthia, Union Export Credit Company and Emirates Global Aluminium. Their participation reflected the breadth of the UAE-Australia economic relationship, which covers trade in goods and services, investment partnerships, logistics links, food supply chains and industrial cooperation.

During the session, both delegations agreed to reassess the direction of their partnership under CEPA and to identify key obstacles that still limit trade and investment flows. The two sides will draw up recommendations and will present their findings for review and evaluation at the third Joint Economic Committee meeting, which is scheduled to take place in due course.

With inputs from WAM