The UAE has signed a Comprehensive Economic Partnership Agreement (CEPA) with Azerbaijan, strengthening economic ties with one of the Caucasus region’s fastest-growing economies.
Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of Foreign Trade, described Azerbaijan as a "hugely valuable trade and investment partner," noting that non-oil trade between the two countries surged 36.2% in 2023 to $2.24 billion—accounting for half of Azerbaijan’s total trade with the GCC.
The deal is expected to contribute $680 million to the UAE’s GDP and $300 million to Azerbaijan’s economy by 2031. It will also open new opportunities in key sectors including manufacturing, agriculture, automotive, logistics, and financial services.
The agreement aims to remove trade barriers, enhance private-sector collaboration, and deepen economic integration through strategic Emirati investments, particularly in energy and renewables via ADNOC and Masdar.
With Azerbaijan’s non-oil sector growing by 6.3% in 2024 and GDP up 4.1%, the CEPA reflects both nations' commitment to sustainable, diversified growth.
News Source: Emirates News Agency
