Abu Dhabi: Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, has announced that the Comprehensive Economic Partnership Agreement (CEPA) between the UAE and the Central African Republic is a pivotal step towards boosting trade and investment cooperation. This agreement aligns with the UAE’s economic strategy focused on economic diversification and sustainable development.
According to Emirates News Agency, Al Zeyoudi emphasized that the CEPA will create opportunities for growth and prosperity for business communities in both nations. The bilateral trade is expected to exceed AED3.67 billion over the next five to seven years, benefiting both countries. The non-oil trade between the UAE and the Central African Republic already reached over AED925 million in 2024, demonstrating the expanding trade exchanges between them.
Al Zeyoudi elaborated that the agreement promotes high-level trade liberalisation. The UAE will remove 98 percent of tariffs on goods from the Central African Republic, while the latter will eliminate 99.5 percent of tariffs on UAE exports. This presents significant opportunities for Emirati exporters to grow in the African market.
The agreement also opens up extensive investment opportunities in various service sectors, including telecommunications, hospitality, logistics, and financial technology. It aims to enhance cooperation in strategic sectors such as aluminium, ceramics, petrochemicals, iron, silver, gold, food products, and textiles.
Al Zeyoudi pointed out that the partnership will advance collaboration in future economic sectors, particularly the digital economy and advanced technology. It will also create new opportunities for small and medium enterprises in both countries and facilitate the launch of integrated investment projects.
He concluded that the UAE-Central African Republic CEPA will strengthen bilateral trade and investment relations, accelerate growth in priority sectors, create job opportunities, enhance supply chains, and expand the UAE’s global trade network into new markets for mutual benefit.
