Strengthening Ties: UAE and EAEU Finalize Economic Partnership Agreement
In a significant stride toward deepening economic collaboration, the United Arab Emirates (UAE) and the Eurasian Economic Union (EAEU) have concluded negotiations on an Economic Partnership Agreement (EPA) . The agreement, aimed at establishing a free trade zone, marks a pivotal development in global trade relations. The announcement was jointly made by Andrey Slepnev , Minister of Trade of the Eurasian Economic Commission (EEC), and Thani bin Ahmed Al Zeyoudi , UAE’s Minister of State for Foreign Trade. Key Features of the Agreement The EPA will undergo intra-state harmonization processes before formal signing. Once effective, the agreement promises to cover over 90% of mutual trade and 85% of the commodity nomenclature , offering preferential treatment that benefits businesses across both regions. Andrey Slepnev emphasized the strategic significance of the UAE, describing it as a "global hub in the region." He noted that the agreement will catalyze trade between the EAEU ...