Abu Dhabi: Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, announced that the signing of the Comprehensive Economic Partnership Agreement (CEPA) between the UAE and the Republic of the Congo aims to significantly increase bilateral trade, with projections to surpass US$7.2 billion by 2032.
According to Emirates News Agency, Al Zeyoudi highlighted that the UAE stands as the Republic of the Congo's first Arab trade partner. The agreement is poised to fortify the UAE's status as a global hub for supply chains, bridging connections between the Arab world, Europe, Asia, and Africa.
The partnership, which has developed substantially since the establishment of diplomatic relations, saw non-oil bilateral trade reach $3.1 billion in 2024, marking a 4.2 percent growth from 2023. UAE's non-oil exports alone were valued at $86 million.
The CEPA promises preferential access for Emirati products in the Congolese market, with 99.5 percent of customs items benefiting from tariff exemptions. This move is expected to boost the competitiveness of UAE industries across sectors such as aluminium, polyethylene, petrochemicals, heavy machinery, ceramics, glass, iron, steel, and copper.
Al Zeyoudi underscored the CEPA as a strategic initiative to enhance collaboration between public and private sectors, unlocking new opportunities in key service industries. The services sector, contributing about 33 percent to the Republic of the Congo's GDP, holds significant potential for economic cooperation as the Congolese government seeks to diversify its economy.
The agreement also positions the UAE to deepen its ties with Sub-Saharan Africa, a region eager to attract strategic investments for sustainable development. The Republic of the Congo is recognized as one of the region's most promising economies.
Additionally, as a pivotal supply chain hub, the UAE is set to assist Congolese exporters in accessing new international markets, further expanding their global reach.