UAE-Ukraine CEPA Enters Force to Eliminate Tariffs on 99% of Goods

The Comprehensive Economic Partnership Agreement (CEPA) between the UAE and Ukraine has officially entered into force, eliminating or reducing tariffs on 99% of UAE goods entering Ukraine and 97% of Ukrainian goods entering the UAE, covering the vast majority of non-oil trade between the two nations. The deal aims to accelerate bilateral trade and investment by removing trade barriers and streamlining customs procedures. Trade Liberalization and Economic Impact Under the terms of the CEPA, the removal of customs duties covers a wide range of products, with a primary focus on agri-food items, machinery, and manufactured goods. In 2023, non-oil trade between the UAE and Ukraine reached approximately $385.8 million, despite the ongoing geopolitical challenges in Eastern Europe. The new framework is designed to double this figure within the next three to five years by granting UAE exporters better access to the Ukrainian market and securing supply chains for essential commodities. The agreement also includes provisions for the liberalization of service sectors, including finance, telecommunications, and professional services. It provides a legal framework for investment protection…