Within the next five to seven years, bilateral trade between the United Arab Emirates (UAE) and the Central African Republic is expected to surpass AED 3.67 billion ($1 billion) thanks to the Comprehensive Economic Partnership Agreement (CEPA), said UAE Minister of State for Foreign Trade Dr. Thani bin Ahmed Al Zeyoudi.
Surging Non-Oil Trade
Al Zeyoudi emphasized the growing trade ties between the two countries, pointing out that non-oil trade hit a remarkable AED925 million in 2024. This expansion demonstrates the growing vigor of economic interactions and the two nations’ wider dedication to deepening their business alliances.
Tariff Reductions to Stimulate Growth
Speaking to the Emirates News Agency (WAM), Al Zeyoudi emphasized the substantial trade liberalization embedded in the agreement. The UAE will remove 98 percent of tariffs on goods from the Central African Republic, while the latter will grant a 99.5 percent tariff removal for UAE exports. These measures are expected to provide significant advantages to Emirati exporters, fostering greater access to the African market.
Investment Opportunities Across Key Sectors
Beyond commerce, the CEPA opens up a plethora of investment potential in a number of service sectors, such as financial technology, logistics, hospitality, and telecommunications. In order to ensure varied economic participation, the agreement also strengthens collaboration in key industries such textiles, food goods, petrochemicals, iron, silver, gold, ceramics, and aluminum.
Focus on Future Economic Sectors
Al Zeyoudi also highlighted the agreement’s emphasis on collaboration in future-focused industries, particularly the digital economy and advanced technology. Furthermore, the CEPA will facilitate new prospects for small and medium enterprises (SMEs) in both nations, paving the way for integrated investment projects in the near future.
Strengthening Economic Ties
The minister stressed that the agreement will not only strengthen bilateral trade and investment relations but also accelerate growth in priority sectors, create job opportunities, enhance supply chain resilience, and broaden the UAE’s global trade network. By integrating new markets and fostering sustainable economic partnerships, the CEPA reaffirms the UAE’s strategic vision for global economic expansion and diversification.
