UAE and EU to deepen business cooperation through landmark trade agreement
Comprehensive pact to enhance market access, bolster investment, and strengthen supply chains
DUBAI, UAE (MNTV) — The UAE and the European Union have committed to expanding business cooperation through a Comprehensive Economic Partnership Agreement (Cepa).
The pact aims to boost trade and investment in key sectors including renewable energy, digital technologies, and logistics.
The agreement was announced after a high-level meeting in Dubai on Wednesday between Dr Thani Al Zeyoudi, UAE Minister of State for Foreign Trade, and Maros Sefcovic, the EU’s Executive Vice President for the European Green Deal and trade chief.
It represents a significant step toward finalizing one of the most ambitious bilateral economic agreements in the region.
Dr Al Zeyoudi said the Cepa will remove trade barriers, enhance market access for goods and services, and stimulate innovation-driven investment.
“By working together, we will strengthen our supply chains, drive innovation and create jobs that will benefit our communities and economies for many years to come,” he said, according to state news agency WAM.
The EU is among the UAE’s top non-oil trade partners, with bilateral trade reaching $67.6 billion in 2024, representing 8.3 percent of the Emirates’ total trade.
Maros Sefcovic emphasized the strategic importance of the deal, stating that it would be finalized “soon” as both sides are aligned on objectives and eager to move forward quickly.
“The UAE is a very important partner for the EU. It’s full speed ahead — and with some lofty ambitions — on the road to a free trade agreement,” he told The National.
European Commission President Ursula von der Leyen hailed the launch of the EU-UAE trade negotiations as a “milestone,” noting that the agreement would bring the two economies closer and deliver benefits to businesses and citizens alike.
“Such an agreement would help strengthen ties between the EU and the Gulf region, offering new opportunities for EU businesses while bolstering our partnership in areas that matter to EU citizens like renewable energy and digital technologies,” she said in a statement.
Sefcovic also held talks with private sector representatives in Dubai, focusing on increasing collaboration and cross-border investment flows.
When asked whether the UAE-EU Cepa could serve as a blueprint for a broader EU-GCC agreement, he responded, “We have kept our partners fully informed.”
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