Published
12/11/2024, 14:20Andrei Slepnev, Minister of Trade of the Eurasian Economic Commission, and Tani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade of the United Arab Emirates, announced the successful conclusion of negotiations on an economic partnership agreement.
In his statement, Slepnev emphasised that the EAEU is actively creating a network of economic partnerships with friendly countries. He noted that the agreement with the UAE is an important achievement given the country's role as a global hub in the region, and the agreement is expected to give a new impetus to trade between the countries, which is already showing unprecedented growth, as well as create a basis for the development of co-operative ties. In turn,
Thani bin Ahmed Al Zeyoudi expressed confidence that the fruitful relationship between the UAE and the EAEU, based on a shared commitment to long-term growth and economic diversification, will deepen through this agreement and allow for the development of numerous synergies.
The final agreement must undergo domestic harmonisation procedures before signing. Recall that the decision to start negotiations with the UAE was taken by the Supreme Eurasian Economic Council in December 2022, and four rounds of negotiations were held in 2023 and 2024. After the agreement comes into force, more than 90% of mutual trade and more than 85% of the commodity nomenclature will be covered by preferential treatment.
