The UAE and the Central African Republic have set a trade target exceeding AED 3.7B (USD 1B) following the signing of a Comprehensive Economic Partnership Agreement (CEPA) last week. This agreement aims to strengthen economic ties and unlock new business opportunities.
UAE Minister of State for Foreign Trade Ahmed Al Zeyoudi stated that CEPA will drive business expansion and increase bilateral trade over the next five to seven years. He highlighted the deal’s potential to open new avenues for collaboration.
Trade between the two nations, excluding oil, surpassed AED 925M last year. CEPA will further boost trade flows by removing tariffs and improving access to both markets.
Under the agreement, the UAE will eliminate 98 percent of tariffs on goods from the Central African Republic, while the latter will remove 99.5 percent of tariffs on UAE exports. This move will simplify trade and support economic diversification.
The deal will also create investment opportunities in key service sectors such as telecommunications, hospitality, logistics, and financial technology. Additionally, it will enhance cooperation in strategic industries including aluminium, ceramics, petrochemicals, iron, silver, gold, food products, and textiles.
Al Zeyoudi emphasised that the partnership will focus on developing future economic sectors, particularly the digital economy and advanced technology. It will also create new opportunities for small and medium enterprises (SMEs) and support the launch of integrated investment projects in the near future.
