Abu dhabi: Dr. Thani bin Ahmed Al Zeyoudi, Minister of Foreign Trade, announced that the recent signing of the Services Trade and Investment Agreement between the UAE and Armenia signifies a crucial step towards enhancing economic integration and expanding bilateral cooperation between the two countries.
According to Emirates News Agency, Al Zeyoudi emphasized that the agreement aims to optimize market access for UAE service exports and boost reciprocal investment flows, aligning with the strategic development objectives of both nations. The framework is set to provide a strong foundation for companies operating in sectors such as financial services, advisory, education, and healthcare, facilitating increased Foreign Direct Investment (FDI) and fostering impactful public-private partnerships.
The agreement identifies key growth sectors including fintech, professional consultancy, and specialized financial services, with investment prospects in areas such as logistics, advanced manufacturing, infrastructure, and renewable energy. Al Zeyoudi highlighted Armenia's emerging role as a key trade partner, with non-oil bilateral trade reaching a record $4.5 billion in 2025.
He noted that the UAE has surpassed Russia to become Armenia's leading foreign investor, demonstrating the strength of investment ties and mutual trust between the two nations. Discussing the synergy between this agreement and the Economic Partnership Agreement (EPA) with the Eurasian Economic Union (EAEU), the minister explained that while the EPA is a comprehensive agreement to enhance market access for goods, the Services Trade and Investment Agreement with Armenia specifically targets investment opportunities and service exports.
Al Zeyoudi pointed out that both agreements focus not only on multinational corporations but also on small and medium-sized enterprises (SMEs). The EPA includes provisions to ease trade restrictions for SME exporters from both sides, highlighting the importance of trade partnerships in sustaining growth and creating opportunities amid global economic challenges. He clarified that the EPA excludes trade in services and investment, which are negotiated separately on a bilateral basis as per the EAEU's legal framework.
He concluded by mentioning that services and investment agreements have already been completed with Armenia and Belarus, with ongoing negotiations with other parties expected to conclude in the near future.
