The UAE is expected to sign a Comprehensive Economic Partnership Agreement (Cepa) with Chad by the end of the year and is currently in talks with other African countries, including Nigeria and Rwanda, to conclude similar deals, said Dr Thani Al Zeyoudi, Minister of Foreign Trade.
“We are in negotiations Cepa with Chad. We're done with the text, and we're moving toward the market access negotiation. I am very confident that we're going to conclude [the deal] before the end of the year,” Dr Al Zeyoudi said on the sidelines of UAE-Chad Trade and Investment Forum in Abu Dhabi on Monday.
UAE-Chad non-oil bilateral trade last year rose 32 per cent annually to $1.9 billion “and the momentum will continue", the minister added.
“Chad with stability, as well as with relations with the neighbours, we see there is always an area of collaboration between us, to make sure that we're taking some of the UAE experience when it comes to developments, stability, investments, growth into Chad and its neighbours,” Mr Al Zeyoudi said.
The Arab world’s second-largest economy is also holding talks to finalise Cepas with Nigeria and Rwanda and will soon begin negotiations with Ghana and South Africa.
“We're almost at the last steps of the negotiation on market access [with Nigeria] because the text is almost done and we are in a good, advanced stage with Rwanda,” Mr Al Zeyoudi said.
“Ghana also asked us to start the negotiation, so that is something which we're going to take soon. Last weekend, I met the South African minister [Mpho Parks Tau, Minister of Trade, Industry and Competition] and we agreed as well that we're going to start the discussion on Cepa.”
Over the past few years, the UAE has been building trade and investment ties around the world through Cepas to diversify its non-oil economic base.
The country is aiming to increase the value of its trade and hit $1 trillion by 2031. The Emirates also aims to double the size of its economy to exceed $800 billion by the same year, with Cepa programmes among the central planks of the national strategy.
Since it was launched in September 2021, the UAE's Cepa programme has concluded 28 agreements with countries around the globe.
Deals have become effective with India, Indonesia, Cambodia, Georgia, Costa Rica, Mauritius, Serbia, Jordan, Malaysia, New Zealand and Australia, data from the Ministry of Foreign Trade shows.
New agreements to boost investments in Chad
There were also more than 39 agreements worth $6.2 billion signed on the sidelines of the UAE-Chad Trade and Investment Forum on Monday, with the UAE signing 18, Mr Al Zeyoudi said.
The agreements were signed in sectors related to renewable energy, logistics and industrial zones.
"Abu Dhabi Ports is going to play a role in the improving the logistical connectivity within the country," Mr Al Zeyoudi said. "We also signed a couple of deals on the industrial zones, which is going to have huge job creation and that's purely done by private sector-led companies from the UAE side."
The UAE is also exploring mining, gold, other minerals and the financial sector as areas in which to increase investment in Chad, he added.
Speaking at the same forum, Chad President Mahamat Deby invited investment in the country.
Chad is seeking $30 billion in investments as part of its national development plan, Chad Connection 2030, to boost growth in the central African nation.
Its economy, which relies heavily on oil, is projected to grow 3.3 per cent in 2025, slightly slower than the 3.5 per cent expansion it recorded in 2024, the IMF has said. The Washington-based multilateral lender expects Chad's economy to grow 3.6 per cent in 2026.
Mr Deby said: "Our commitment is 100 per cent. Chad is a land of opportunities, the moment has come to make it economic success."
Chad offers a range of sectors for investment including clean energy, mining, communication and infrastructure development, he added.
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MOUNTAINHEAD REVIEW
Starring: Ramy Youssef, Steve Carell, Jason Schwartzman
Director: Jesse Armstrong
Rating: 3.5/5
Developer: Ubisoft Montreal / Ubisoft Toronto
Publisher: Ubisoft
Platforms: Playstation 4, Xbox One, Windows
Release Date: April 10
Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
Past winners of the Abu Dhabi Grand Prix
2016 Lewis Hamilton (Mercedes-GP)
2015 Nico Rosberg (Mercedes-GP)
2014 Lewis Hamilton (Mercedes-GP)
2013 Sebastian Vettel (Red Bull Racing)
2012 Kimi Raikkonen (Lotus)
2011 Lewis Hamilton (McLaren)
2010 Sebastian Vettel (Red Bull Racing)
2009 Sebastian Vettel (Red Bull Racing)
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