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In a joint ministerial statement signed by Al-Zeyoudi with the First Deputy Prime Minister of Ukraine
The joint declaration comes within the country’s plans to expand its network of commercial partners within the program of global economic agreements issued within the “50 Projects”.
– Thani Al-Zeyoudi: The quest for the first comprehensive economic partnership agreement with a European country reflects the broad scope of the country’s new foreign trade agenda
Yulia Svirenko: The UAE has earned a well-deserved reputation as a prominent international trade and logistics hub.
From / Mohamed Jaballah..
Dubai on December 5th
His Excellency Dr. Thani bin Ahmed Al-Zeyoudi, Minister of State for Foreign Trade, and His Excellency Yulia Svirenko, First Deputy Prime Minister and Minister of Economy of Ukraine, signed today a joint ministerial statement regarding the two countries’ intention to launch talks to reach a comprehensive economic partnership agreement between them.
The signing ceremony took place during the visit of a high-ranking Ukrainian delegation to the country, and this step confirms the two countries’ keenness to strengthen bilateral economic relations, boost trade, improve market access, and create investment opportunities and new joint projects.
The proposed Comprehensive Economic Partnership Agreement is a key element in Ukraine’s plans to revitalize its national economy once the current crisis is over, knowing that Ukraine is one of the most important countries exporting grains, such as barley and wheat, to the countries of the Middle East.
This joint announcement comes at a time when strong trade and investment flows between the UAE and Ukraine are witnessing continuous growth, as the volume of non-oil trade between the two countries in 2021 reached $904.4 million, an increase of 28.4% over the same period in 2020 and 12.2% more than in 2020. 2019, and Emirati investments in Ukraine amounted to approximately $243.3 million by the end of 2021, while total Ukrainian investments in the UAE reached $84 million by the end of 2020.
The move also comes after trade and investment pledges worth more than $3 billion were announced during Ukrainian President Vladimir Zelensky’s visit to the UAE in February 2021.
His Excellency Dr. Thani Al-Zeyoudi stressed that the pursuit of the UAE’s first comprehensive economic partnership agreement with a European country reflects the broad scope of the country’s new foreign trade agenda, adding that building deeper and stronger bridges of cooperation with strategically important global partners is a major component in efforts to double the size of the national economy by 2018. 2030.
In a statement to the Emirates News Agency, WAM, he welcomed Ukraine’s openness to reaching a comprehensive economic partnership agreement at this time after working on it for nearly a year, considering it an important opportunity with the aspiration to reach a mutually beneficial agreement that would speed up the flow of goods and secure supply chains. and creates a platform for joint projects in areas of mutual interest.
His Excellency added that the agreement with Ukraine, which represents an important economic destination in Europe, provides a set of new investment opportunities for exporters, investors and manufacturers in the country, and also allows the agricultural and industrial production of Ukraine to reach new markets in Asia, Africa and the Middle East.
For her part, Her Excellency Yulia Svirenko said that the conclusion of a comprehensive economic partnership agreement between the UAE and Ukraine will unleash the full potential of the two countries’ cooperation in trade and investment, helping their business communities to grow by taking advantage of new opportunities.
Her Excellency added: “The UAE has gained a well-deserved reputation as a prominent international trade and logistics hub, and Ukraine is also known for its role as a global guarantor of food security and a growing power in the field of information technology. investment flows.
For his part, His Excellency Taras Kachka, Deputy Minister of Economy of Ukraine, expressed in a special statement to WAM that he welcomed the acceleration of steps to announce the flow of trade between Ukraine and the UAE, which contributes to enhancing trade and giving impetus to trade relations between the two countries, stressing the existence of a strong history. One of the trade relations between Kyiv and Abu Dhabi, stressing that this comprehensive economic partnership will enhance opportunities for economic cooperation and open new markets in the region.
The joint declaration on the launch of talks with Ukraine follows the conclusion of comprehensive economic partnership agreements with India, Indonesia and Israel, and rounds of talks are currently taking place with Turkey, Georgia, Colombia and Cambodia, within the framework of the global economic agreements program launched by the UAE government as part of the fifty projects. . The plan to expand the country’s network of commercial partners is part of the national strategy to contribute to doubling the national economy from 1.4 trillion dirhams to 3 trillion dirhams by 2030.
