Ukraine and the United Arab Emirates Sign Economic Partnership Agreement
Ukraine and the United Arab Emirates recently signed a joint statement marking the completion of negotiations on a comprehensive economic partnership agreement. According to RBC-Ukraine, this agreement is expected to boost Ukraine’s GDP growth by 0.1%, as stated by the Ministry of Economy.
The signing ceremony was attended by First Deputy Prime Minister and Minister of Economy of Ukraine, Yulia Sviridenko, and the Minister of Foreign Trade of the UAE, Tani bin Ahmed Al Zayoudi.
Sviridenko highlighted the significance of this agreement, noting that it opens up opportunities not only in the UAE but also in other regions of the Persian Gulf. She emphasized that this agreement is comprehensive, covering various aspects such as goods, services, investments, and digital trade.
This partnership is considered a milestone in the economically developed Middle East region, providing access to the UAE market and facilitating global trade. The UAE’s prominent position in trade logistics makes it an attractive market for Ukrainian exports.
Following the signing of the joint statement, the governments of both countries will proceed with the legal review process before formally signing the agreement.
The Ministry of Economy expects the agreement to have a positive impact on Ukraine’s real GDP growth in the medium- and long-term, with a potential increase of 0.10%. Key sectors like transport, metallurgy, and the food industry, particularly in flour and oil production, are expected to experience significant growth as a result of this partnership.
