2025 Outlook: Expanding UAE CEPA Network to Drive Economic Growth

 

As we step into 2025, the UAE is poised to significantly expand its Comprehensive Economic Partnership Agreement (CEPA) network by signing additional agreements. The UAE's Minister of State for Foreign Trade, Dr. Thani bin Ahmed Al Zeyoudi, aiming to foster an international trade relationships, enhancing its economic footprint and cement the UAE’s position in the global marketplace. So this strategic move aims to fuel economic growth and achieve ambitious trade goals. 

Precisely, The UAE has set a bold target to boost its non-oil trade to $1 trillion by 2031. This target is part of a broader vision to double the economy and surpass $800 billion by 2030. The expansion of the CEPA network is a crucial step toward achieving these goals.

In 2024, (which is a successful year to UAE) their foreign trade saw impressive growth, surpassing AED 1.395 trillion in the first half of the year alone, which was an 11.2% increase compared to the same period in 2023. This success underscores the effectiveness of the CEPA agreements in promoting trade. The CEPA agreements provide greater market access, reduce tariffs, and create new opportunities for UAE businesses. Key sectors set to benefit include clean energy, technology, financial services, and more. These agreements promote rules-based international trade and support sustainable development.

Highlights:

- UAE-India CEPA, has significantly boosted trade by eliminating tariffs on over 80 percent of products. This agreement provides UAE businesses with access to Indian government procurement opportunities and ensures a non-discriminatory trade environment.

- UAE-Indonesia CEPA covering over 90 percent of tariff lines and 94 percent of trade value. It also includes a 10 percent price preference for UAE businesses in Indonesian government procurement tenders, promoting robust bilateral trade and investment.

- UAE-Israel CEPA, effective April 1, 2023, covers 96 percent of tariff lines and 99 percent of trade value. It facilitates digital trade, enhances service sector collaboration, and provides UAE service suppliers with access to Israel’s domestic markets. 

Looking ahead, The UAE's strategy to expand its CEPA network is a testament to its commitment to economic diversification and sustainable growth. By forging strong international partnerships, the UAE is well-positioned to drive economic progress and secure a prosperous future. This pragmatic approach to economic expansion through CEPA agreements highlights the UAE's proactive stance in building a robust and resilient economy for the years ahead.


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