UAE-Ukraine Trade Deal Enters Force to Eliminate Tariffs on 95% of Goods

The Comprehensive Economic Partnership Agreement (CEPA) between the United Arab Emirates and Ukraine officially entered into force on Thursday, removing or reducing tariffs on more than 95% of non-oil product lines. The deal aims to double bilateral non-oil trade to $1 billion within the next five years. Tariff Reductions and Market Access The agreement eliminates customs duties on 96% of Ukrainian exports to the UAE and 94% of UAE exports to Ukraine. Key sectors benefiting from the removal of trade barriers include agricultural products, specifically grains and vegetable oils, as well as industrial materials like iron and steel. UAE-based exporters of machinery, electronics, and chemicals will gain immediate duty-free access to the Ukrainian market. In addition to trade in goods, the CEPA establishes frameworks for digital trade, intellectual property rights, and investment protection. It also simplifies customs procedures to reduce the administrative burden on small and medium-sized enterprises (SMEs) operating in both jurisdictions. Food Security and Economic Strategy Ukraine serves as a critical supplier of agricultural commodities to the UAE, and the agreement is expected to…