Georgia and UAE Sign Comprehensive Economic Partnership Agreement (CEPA)

On October 10, Georgia and the United Arab Emirates signed a Comprehensive Economic Partnership Agreement (CEPA) in Dubai. The agreement was signed by Levan Davitashvili, Vice Prime Minister and Minister of Economy and Sustainable Development of Georgia, and Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade and Minister of the UAE.

Georgia’s Minister of Economy welcomed the agreement, describing it as a “solid foundation for further deepening trade and investment cooperation” between the two countries. He noted that the agreement liberalizes trade in goods and services, opening up a market of 10 million consumers to Georgia, with 97.5% of Georgian products entering the Emirates duty-free. Notably, the agreement also covers trade in services and other trade-related areas.

According to the press release of the Georgian Ministry of Economy, the UAE Minister of State noted the solid foundation of trade and economic relations between the two countries and emphasized the growing trade turnover. The Vice Prime Minister also highlighted Georgia’s attractiveness to Arab businesses and its strategic position with trade agreements in place with the EU and China.

The release notes, that agreement is expected to increase trade, stimulate growth and unlock untapped potential over time. The speed of the negotiation process, which was completed in only three rounds, signals a commitment to strengthening the bilateral relationship. Discussions also focused on expanding cooperation in various sectors, including tourism, energy, transport, communications, innovation, information technology and mining.

The Prime Ministers of Georgia and the UAE attended the signing ceremony virtually. Prime Minister Irakli Garibashvili expressed gratitude to the president of the UAE for his contribution to the partnership and stated that his country “has always stood at the helm of innovation and progress, which is an important promise of hope for the future and optimism”.

Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, hailed the agreement as a new milestone in UAE-Georgia relations, fostering opportunities for both countries. He noted: “the United Arab Emirates has always worked toward the empowerment and sustainable development of the relations between our countries”.

Also Read:

• 13/02/2023 – Irakli Garibashvili Addresses World Government Summit
• 01/11/2022 – Prime Minister Garibashvili Visits United Arab Emirates

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