UAE and EAEU Finalize Trade Framework to Secure Long-Term Economic Growth

The UAE and the Eurasian Economic Union (EAEU) have established a formal legal framework for long-term economic cooperation following the conclusion of a Comprehensive Economic Partnership Agreement (CEPA). The deal, designed to eliminate trade barriers and streamline customs procedures, provides a predictable environment for capital flow between the UAE and the five-nation bloc. Establishing a Legal Basis for Growth Maksim Yermalovich, Minister in charge of Competition and Antitrust Regulation of the Eurasian Economic Commission (EEC), confirmed that the agreement creates a stable foundation for bilateral relations. The EAEU, which comprises Armenia, Belarus, Kazakhstan, Kyrgyzstan, and Russia, represents a combined market of over 183 million people with a total GDP exceeding $2 trillion. The agreement focuses on reducing or eliminating tariffs on a wide range of goods and services. It also addresses technical barriers to trade and intellectual property rights, ensuring that businesses from both regions operate under a unified set of regulations. This regulatory alignment is expected to reduce the cost of doing business and increase the volume of non-oil trade. Strategic Trade…