The United Arab Emirates and Australia have officially brought their Comprehensive Economic Partnership Agreement (CEPA) into force, marking a major milestone in bilateral economic relations.
The deal is set to expand trade, enhance investment opportunities, and foster private sector collaboration across multiple industries.
The CEPA is expected to elevate annual trade between the two nations from US$4.2 billion in 2024 to over US$10 billion by 2032. In the first half of 2025, the UAE’s non-oil trade with Australia reached $3.03 billion, up 33.4 percent year-on-year, highlighting growing commercial ties.
The agreement aims to remove trade barriers, facilitate market access for goods and services, and establish a strong framework for investment and sector-specific collaboration. Key areas of focus include renewable energy, infrastructure, food security, and technology.
Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of Foreign Trade, described the CEPA as “a pivotal step in enhancing our economic partnership” and emphasized its role in opening new pathways for growth and collaboration.
Australia regards the UAE as its leading trade partner in the Middle East and 20th largest globally. The CEPA represents Australia’s first trade agreement in the MENA region and builds on a foundation of $14 billion in mutual investment and 300 Australian companies operating in the UAE.
The UAE’s CEPA programme is central to its broader economic vision, targeting $1 trillion in total trade value and a doubling of the economy to over $800 billion by 2031. This latest agreement is one of 31 concluded by the UAE, expanding market access and strengthening international trade links.
With the CEPA now in effect, both nations are poised to deepen economic cooperation and capitalize on the growing opportunities in trade and investment.
News Source: Emirates News Agency
