UAE Expands Global Trade Through CEPAs, Achieves Record Non-Oil Trade Figures

The UAE has signed Comprehensive Economic Partnership Agreements (CEPAs) with 24 countries, six of which are currently in operation, according to Dr. Thani Al Zeyoudi, Minister of State for Foreign Trade. These agreements aim to eliminate or significantly reduce customs duties and tariffs, fostering stronger trade ties with partner nations.

Speaking during the inaugural edition of Abu Dhabi Business Week, Dr. Al Zeyoudi emphasized the impact of CEPAs on the UAE’s non-oil trade growth, which has reached unprecedented levels.

Boosting Trade and Economic Growth

“The UAE’s 2031 agenda focuses on enhancing trade, targeting AED 4 trillion in non-oil foreign trade over the next seven years, and increasing exports to AED 800 billion,” Dr. Al Zeyoudi said in his keynote address.

Since 2022, the UAE has concluded free trade deals with 24 nations, including India and Turkey, granting enhanced market access to nearly a quarter of the global population. These agreements have contributed to record trade volumes, with non-oil trade reaching AED 1.39 trillion in the first half of this year—a year-on-year increase of 11.2%.

A Thriving Economy Amid Global Challenges

Highlighting the UAE’s economic resilience, Dr. Al Zeyoudi noted that the country’s economy has grown 24-fold over the past 53 years, defying global economic uncertainties.

“In an uncertain economic landscape, the UAE remains a hub of growth and opportunities. This success is not accidental but a result of strategic investment in natural resources and long-term development across social, industrial, and educational sectors,” he stated.

Dr. Al Zeyoudi attributed the UAE’s robust growth to three core pillars: trade, technology, and targeted investments, supported by partnerships with nations, academia, and corporations.

Record Non-Oil Export Performance

The minister also revealed that the UAE’s non-oil exports for the first nine months of the year exceeded the total figures for 2022, growing 25% to AED 265 billion.

“Our non-oil exports continue to break records, even amid a global trade slowdown, which averaged just 1.5% growth during the same period,” Dr. Al Zeyoudi said.

Technology-Driven Economic Future

Looking ahead, the UAE is accelerating its integration of advanced technologies such as artificial intelligence, blockchain, robotics, and the Internet of Things (IoT) across all sectors.

“The UAE’s growth agenda is designed to ensure a sustainable, technology-driven economy that secures future prosperity,” the minister concluded.

With CEPAs and advanced technology at its core, the UAE is positioning itself as a global trade powerhouse, setting ambitious targets to further strengthen its economic standing on the world stage.