The Comprehensive Economic Partnership Agreement (Cepa) between the UAE and Ukraine will come into effect on July 1, enabling the two nations to boost bilateral trade and investment.
The deal, which aims to create new opportunities for private-sector collaboration, will strengthen the UAE's relationship with a key European market, reinforcing its role as a global trade hub, the Ministry of Foreign Trade said on Tuesday. The two nations signed the Cepa in February last year.
“The UAE-Ukraine Cepa represents a landmark moment in our economic partnership,” said Dr Thani Al Zeyoudi, Minister of Foreign Trade. “This agreement is designed to revitalise trade flows, unlock new avenues for investment and foster collaboration across essential sectors, thereby benefiting both nations.”
The deal also aims to support Ukraine's economy, which has been devastated by the war with Russia. The country's real gross national product growth plunged 28.8 per cent in 2022 – Russian troops began their full invasion in February of that year.
Kyiv has since managed to stabilise the national economy with improved policies and external support. The International Monetary Fund expects the country’s real GDP to grow by 5.3 per cent this year.
The trade deal will eliminate or reduce tariffs on a wide range of goods and services, enabling easier market access and broader global reach.
Under the agreement, 99 per cent of Ukrainian imports of UAE goods and 97 per cent of Ukrainian exports to the Emirates will be exempt from customs duties with immediate effect.
Through private-sector collaboration, the agreement aims to help businesses and entrepreneurs in both countries expand their operations into global markets, the ministry said.
The deal is estimated to contribute $369 million to the UAE’s GDP and $874 million to Ukraine’s by 2031, the statement said. Non-oil foreign trade between the countries reached $346.8 million in 2025. With the deal in place, the UAE sees significant potential to unlock more opportunities to boost non-oil trade, which peaked at $904.4 million in 2021.
Cepa push
The UAE has already signed with 37 Cepas with trading partners and the deal with Ukraine is the 18th to come into force.
The Emirates, the Arab world’s second-largest economy, is pushing to forge similar deals with trading partners across continents as it seeks to boost investment ties, expand its non-oil economic base and broaden exports.
The UAE aims to boost non-oil foreign trade to Dh4 trillion ($1.089 trillion) by 2031 as part of its national economic goals. The country is investing heavily in trade and logistics infrastructure, including modern marine ports and airport infrastructure to attract foreign investors.
The UAE’s non-oil foreign trade surged 26 per cent annually to exceed $1 trillion for the first time in 2025. Non-oil exports during the year rose 45 per cent to $221 billion.
The country’s GDP grew 6.2 per cent year-on-year to hit Dh1.9 trillion in 2025, anchored by the strength of its non-oil sector. Non-oil GDP jumped 6.8 per cent annually to Dh1.5 trillion, according to data from the Federal Competitiveness and Statistics Centre.
