The Comprehensive Economic Partnership Agreement (CEPA) between the UAE and Georgia has officially commenced, marking a significant milestone in bilateral relations.
This landmark agreement aims to bolster trade, empower SMEs, and strengthen global supply chains by eliminating or reducing customs duties on 95 percent of tariff lines, which encompass over 90 percent of non-oil bilateral trade.
Projections indicate that the CEPA will more than triple the value of non-oil trade between the UAE and Georgia to $1.5 billion within five years. By 2031, it is expected to contribute $3.9 billion to the UAE’s GDP and $291 million to Georgia’s GDP. The agreement will also significantly boost UAE exports to Georgia, projected to reach $1.3 billion by 2031, benefiting key sectors such as refined sugar, electrical appliances, vehicles and parts, polymers, and machinery.
The UAE is Georgia’s leading trading partner in the Arab world, accounting for over 63 percent of its trade with the region. In 2023, bilateral non-oil trade between the two countries reached $511.2 million, reflecting a 6.3 percent increase from 2022. The UAE is also Georgia’s sixth-largest global investor, with bilateral investment exceeding $1 billion.
Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, highlighted the significance of the agreement, emphasizing Georgia's strategic location and its promising market potential for UAE businesses. He noted that the CEPA lays the foundation for a robust partnership, driving investment in key sectors and contributing to global economic recovery.
This agreement is part of the UAE’s broader foreign trade agenda, which includes CEPAs with India, Indonesia, Israel, Türkiye, and Cambodia, with more agreements in the pipeline across Asia, Europe, Africa, and South America.
News Source: Emirates News Agency
