Non-oil trade between the UAE and the Central African Republic reached over AED925 million in 2024
The Comprehensive Economic Partnership Agreement (CEPA) between the UAE and the Central African Republic is set to boost bilateral trade to over AED3.67 billion ($1 billion) over the next five to seven years, Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, said.
He noted that non-oil trade between the UAE and the Central African Republic continues to grow, reaching over AED925 million in 2024, highlighting the rapid expansion of trade exchanges between the two countries.
The CEPA reflects the leadership’s commitment to enhancing trade and investment cooperation with countries worldwide through economic diversification and sustainable development, supporting the UAE’s economic strategy.
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Slashing tariffs
In statements to the Emirates News Agency (WAM), Al Zeyoudi said that the agreement ensures a high level of trade liberalization, with the UAE granting a 98 percent tariff removal for goods from the Central African Republic, while the latter extends a 99.5 percent tariff removal for UAE exports, offering significant opportunities for Emirati exporters to expand in the African market.
Investment opportunities
He highlighted that the agreement provides extensive investment opportunities across various service sectors, including telecommunications, hospitality, logistics, financial technology, and broader business sectors. It also enhances trade and investment cooperation in strategic sectors such as aluminium, ceramics, petrochemicals, iron, silver, gold, food products, and textiles.
Al Zeyoudi added that the partnership focuses on advancing collaboration in future economic sectors, particularly digital economy and advanced technology, while also opening new opportunities for small and medium enterprises in both countries and facilitating the launch of integrated investment projects in the coming phase.
He stressed that the 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.
