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  1. Negotiations

UAE


The United Arab Emirates (UAE) is stepping up its efforts to forge bilateral trade deals as part of its strategy to diversify its economy parallel to fossil fuels and consolidate its geopolitical position. The UAE is aiming to sign 26 free trade agreements (usually called Comprehensive Economic Partnership Agreements or CEPAs) over the next few years, positioning itself as a key player in the global supply chain.

It is also a member of the regional Gulf Cooperation Council, which is a party to a number of free trade agreements, and the Greater Arab Free Trade Area.

Already an established business and tourism hub, the UAE seeks to consolidate its status as a financial powerhouse and expand into sectors such as clean energy, technology and agribusiness. Food security is a critical geostrategic concern for the UAE, given its reliance on food imports. Through a tightly controlled network of ports and logistics platforms, and new CEPAs, the UAE aims to become a central hub in the global agri-food trading system, where corporations can import and re-export products across Asia, Africa and Europe quickly and duty-free.

The UAE's ambitious network of free trade agreements spans the globe. In Africa, it has signed trade deals with Kenya, Mauritius, Morocco and the Republic of Congo, and is seeking more, including with Nigeria and the East African Community. Bilateral investment treaties have been signed with Ethiopia, Liberia, Nigeria and Zimbabwe. Over the past decade, the UAE has invested US$59.4 billion in the continent. New free trade agreements and opportunities arising from the African Continental Free Trade Area are likely to accelerate this trend.

In Latin America, the UAE has inked deals with Chile, Colombia and Costa Rica, and is negotiating with Ecuador, Mercosur and Peru. Its presence in the Asia-Pacific region is also growing, with CEPAs signed with Cambodia, India, Indonesia, Israel, South Korea and Türkiye, and ongoing negotiations with Australia, Hong Kong, Malaysia, New Zealand, Pakistan, the Philippines, Thailand and Vietnam. An agreement with Bangladesh is at an early stage.

In Europe, agreements have been signed with Georgia, Serbia and Ukraine, and negotiations are underway with the Russia-led Eurasian Economic Union. Future potential deals include those with Belarus and the European Union.

The UAE and Canada signed a bilateral investment treaty in 2018.

As the UAE accelerates its post-oil economy plans, these comprehensive trade agreements will play a key role in shaping its new economic landscape.

last update: August 2024
Photo: DP World / Facebook

Indian Business Leaders Forum to press for free trade pact
17-Jun-2011    
Indian Business Leaders Forum, or IBLF, said it will make an all-out effort to see that a Free Trade Agreement between the UAE and India becomes a reality in the coming months.
S. Korean Investments into the UAE to Rise after FTA with GCC
9-Apr-2009    
South Korea's investments into the UAE will rise by 400 per cent while trade volume will expand by 50 per cent in next one year, once the free trade agreement is signed between the GCC and Seoul, a senior official said.
VAT and trade pacts clash
14-Jul-2008     Emirates Business 24/7
Imposing a value added tax (VAT) on GCC and Arab products in the UAE would be against the agreements signed by the country with other Gulf and Arab states, according to the Ministry of Economy.
UAE-Japan to benefit from FTA
24-Jun-2008     Emirates Business
A UAE-Japan FTA should focus on bridging the gap in trade between the two sides and encourage Japan to pump more investment into the UAE to enable it to acquire technology, which is needed for its economic diversification programme, said the Emirates Centre for Strategic Studies and Research.
Emirates persists on US trade agreement
18-Apr-2008    
The United States has not dropped the ball on a free-trade agreement with the UAE, Sheikha Lubna Al Qasimi, Minister of Foreign Trade, told delegates at the Middle East-Asia Leadership Forum in Dubai.
Japan-UAE joint economic committee set up
29-Apr-2007    
President His Highness Shaikh Khalifa Bin Zayed Al Nahyan and visiting Japanese Prime Minister Shinzo Abe expressed their firm determination to develop bilateral relations between the UAE and Japan at all levels.
Trade deals to position UAE as economic hub
24-Feb-2007     Zawya
The UAE is negotiating eight free-trade agreements with key economic blocks that will have an impact on trade worth Dh388 billion, according to 2005 figures, and cement the country's position as the economic hub of the Middle East.
Indo-Arabic economic bloc mooted
8-Jan-2007     Economic Times
The UAE has proposed an Indo-Arabic economic bloc with a view to ensure prosperity and growth over the long term for the two sides.
UAE and Egypt aim to increase trade
7-Dec-2006     Gulf News
"We do not need a free trade agreement with the UAE as there is already the Pan-Arab Free Trade Agreement (PAFTA), which we will implement," Prime Minister Dr Nadeef said. PAFTA is an agreement to establish a pan-Arab free trade area by 2008.
UAE and Japan to boost trade ties
3-Jul-2006    
The UAE and Japan yesterday agreed to foster their existing trade and economic relations by starting discussions on Avoidance of Double Taxation Treaty to create an enabling environment for bilateral investments.