CEPA aims to add about $369 million to UAE’s GDP and $874 million to Ukraine’s GDP
Dr. Thani bin Ahmed Al Zeyoudi, UAE minister of State for Foreign Trade, hosted a business roundtable that gathered UAE government officials, prominent UAE businesses, and investment groups alongside a high-ranking Ukrainian delegation led by Yuliia Svyrydenko, first deputy prime minister and minister of Economy.
The meeting focused on exploring promising UAE Ukraine investment opportunities, particularly in infrastructure projects, under the Comprehensive Economic Partnership Agreement (CEPA) between the two nations.
Strengthening bilateral trade
The UAE-Ukraine CEPA, signed in the presence of President His Highness Sheikh Mohamed bin Zayed Al Nahyan and President Volodymyr Zelenskyy of Ukraine, aims to strengthen bilateral trade relations and investment flows between the two nations. It is projected to contribute approximately $369 million to the UAE’s GDP and $874 million to Ukraine’s GDP by 2031.
The CEPA will also assist in accelerating Ukraine’s economic recovery, creating new avenues for collaboration across sectors such as infrastructure, heavy industry, aviation, and information technology.
Commitment to enhancing economic ties
Al Zeyoudi emphasized the significance of the gathering, stating, “This roundtable not only demonstrates our commitment to enhancing economic ties with Ukraine but will also accelerate the mutual benefits that our newly signed CEPA offers. Designed to be broad-based, the CEPA opens opportunities for strategic investments across vital sectors such as infrastructure, agriculture, and technology, while enabling start-ups and promoting knowledge exchange between our two nations. With its pro-growth reforms and potential accession to the EU, we foresee enhanced appeal in Ukraine as an investment destination, with vast scope to build on our existing joint FDI stock of $360 million.”
New era of friendship marked
Yuliia Svyrydenko highlighted that signing the CEPA with the UAE, followed by a comprehensive meeting with business leaders from both sides to discuss optimal ways to leverage this agreement, marks a new era of friendship and paves the way for joint development. She noted the great opportunity for the private sector and business communities in both nations, stating they will play a pivotal role in advancing trade and investment relations, particularly in sectors with significant potential for future growth, such as energy projects, logistics, transportation, healthcare, and manufacturing.
Specific opportunities in infrastructure and agriculture
The roundtable explored specific opportunities in infrastructure development, agriculture, and food security, as well as the potential privatisation of large-scale state-owned Ukrainian enterprises. Discussions highlighted the mechanisms for investment covered by the CEPA, emphasising the importance of logistics and transport projects, which will require substantial capital in the coming years, particularly in roads, ports, and airports. Additionally, sectors such as travel and tourism, advanced technology, and agriculture were identified as immediate areas for collaboration.
The successful conclusion of the roundtable significantly strengthened the bilateral ties between the UAE and Ukraine, building on the CEPA and the 28 Memoranda of Understanding signed between the two countries in 2021, valued at over $3 billion. This expanding partnership will lay the groundwork for enhanced economic collaboration and mutual growth in a rapidly evolving global landscape.
Joint statement during Zelenskyy’s official visit to the UAE
During the official visit of Volodymyr Zelenskyy, President of Ukraine, to the UAE from February 16 to 17, 2025, Ukrainian President met with President His Highness Sheikh Mohamed bin Zayed Al Nahyan. On this occasion, both sides issued a joint statement to commemorate the visit.
Both leaders expressed appreciation for the level of engagement between their nations and welcomed the shared commitment to elevate their bilateral relationship through the signing of the CEPA. They acknowledged the steady and positive development of relations over the past three decades and underscored the importance of frequent exchanges and collaborative peace efforts, particularly regarding the ongoing conflict between Russia and Ukraine.
The leaders also commended the UAE’s active participation in key Ukrainian-related events, such as the Fourth Crimea Platform, the First Peace Summit on Ukraine, Ukraine’s Recovery Conference, the Mine Action Conference, and the Ministerial Conference on the Human Dimension of Ukraine’s 10-Point Peace Formula.
Both leaders reaffirmed their firm commitment to working together to promote respect for international law and the Charter of the United Nations and renewed their commitment to support serious dialogue, leading to a just, lasting, and comprehensive peace for Ukraine.
Read more: UAE-Ukraine CEPA marks key step toward new economic era, says Ukrainian economy minister
UAE’s readiness to support sustainable peace efforts
During the June 2024 Peace Summit on Ukraine, the UAE expressed its willingness to reinforce peacemaking efforts and deploy all its relevant resources and tools to support a sustainable end to the ongoing conflict. Ukraine voiced confidence in the UAE’s commitment to peace and gratitude for its efforts. The country also praised the UAE’s leadership in promoting dialogue, peaceful coexistence, and support for international law, expressing hope for continued high-level engagement in future peace efforts for Ukraine.
The two leaders reaffirmed their commitment to deepening bilateral cooperation across key priority areas, including trade, humanitarian assistance, agriculture, medical aid, education, and technology. They also explored potential partnerships in emerging sectors such as food security, logistics, infrastructure, science, and digital transformation.
Both leaders emphasized the importance of expanding economic and trade relations between the two countries and expressed their commitment to boosting investment flows and revitalising key platforms such as the UAE-Ukraine Business Council and the UAE-Ukraine Intergovernmental Joint Commission in 2025 in Abu Dhabi.
They highlighted the need for increased public and private sector collaboration in efforts to promote stronger economic ties and build on the outcomes of the third session of the Ukrainian-Emirati Joint Commission held in Kyiv in 2018, which focused on enhancing trade, investment, energy, and infrastructure cooperation.
Upon signing the UAE-Ukraine CEPA, both countries commended the efforts in finalizing the agreement. They highlighted the significant economic benefits, underscoring the potential of the CEPA to strengthen bilateral trade and investment, reduce trade barriers, and open new opportunities in sectors such as infrastructure, agriculture, technology, and manufacturing.