The UAE and Ukraine are discussing mechanisms to benefit from the comprehensive economic partnership agreement

The UAE and the Republic of Ukraine discussed the best ways to benefit from the comprehensive economic partnership agreement signed between the two friendly countries, in an expanded meeting hosted by the capital Abu Dhabi, yesterday, in the presence of ministers and business leaders from the two friendly countries.

The meeting focused on ways to build commercial and investment partnerships between the business community on both sides under the umbrella of the comprehensive economic partnership agreement, and the two parties exchanged visions and ideas on mechanisms to upgrade bilateral relations, and the expected contribution of the agreement to support the Ukrainian economy’s recovery as soon as the current crisis ends.

The Emirati side at the meeting was chaired by His Excellency Dr. Thani bin Ahmed Al -Zyoudi, Minister of State for Foreign Trade, and the Ukrainian side, His Excellency Yulia Sfiridko, First Deputy Prime Minister and Minister of Economy.

The meeting was attended by His Excellency Juma Mohamed Al Kate, Assistant Undersecretary for International Trade Affairs at the Ministry of Economy, in addition to representatives of major Emirati companies including “ADNOC”, Abu Dhabi Investment Office, Dubai World Ports, Abu Dhabi Ports Group, Emirates Airlines, and Abu Dhabi International Financial Market , Abu Dhabi First Bank, Issa Al Ghurair Investment, Industrial Innovation Group, RESPONS Plus Holding, Sardel Holding, Bin Harmal Group, Food Company and many investment groups operating in the technology, agriculture, logistical and infrastructure sectors.

On the Ukrainian side, His Excellency Vitaly Koval, Minister of Agriculture, and His Excellency Dollsu Senick, Ukraine Ambassador to the UAE, participated in the UAE side, along with government officials and business leaders..

The agreement that witnessed yesterday, His Highness Sheikh Mohammed bin Zayed Al Nahyan, President of the State, “may God protect him”, and the luxury of Volodimir Zellinski, President of the Republic of Ukraine, aims to enhance bilateral trade relations and investment flows between the two countries, and is expected to add about 369 million US dollars to The GDP of the UAE, and 874 million dollars to the GDP of Ukraine by 2031.

The agreement also aims to contribute to accelerating the economic recovery in Ukraine, which creates new opportunities for cooperation in sectors such as infrastructure, heavy industries, aviation and information technology.

His Excellency Dr. Thani bin Ahmed Al -Zyoudi stressed that the convening of this expanded meeting of business leaders after the signing of the comprehensive economic partnership agreement between the UAE and Ukraine is an important step to explore the mechanisms of cooperation and the best ways to take advantage of the promising capabilities of this partnership, especially since the two countries have a common will to continue to upgrade trade and investment relations To new prospects that achieve the development goals of both sides.

He said that this meeting confirms the mutual commitment to strengthen bilateral relations, especially as it is held on the same day when the comprehensive economic partnership agreement was signed between the two countries, which opens wide horizons of opportunities to strategic investments in vital sectors such as infrastructure, agriculture and technology, while empowering startups And enhancing the exchange of knowledge between the two countries.

He added that the common will of the two countries friendly to upgrading relations to new horizons that start from a solid base of fruitful commercial and investment cooperation, as the total value of Emirati investments in Ukraine amounted to 360 million US dollars, while non -oil -oil trade amounted The list, knowing that in the year 2021 it recorded 904.4 million dollars, a growth of 28.4% compared to 2020.

For its part, His Excellency Yulia Sfridinko stressed that the conclusion of the comprehensive economic partnership agreement with the UAE, and the subsequent convening of an expanded meeting in the presence of business leaders from both parties to discuss the optimal way to benefit from this agreement establishes a new era of friendship between the two sides, and paves the way for a joint development start.

She said that the private sector and the business community in the two friendly countries will play a pivotal role in advancing efforts to raise trade and investment relations, especially in sectors that have the largest capabilities for future growth such as energy projects, logistics services, transportation and a healthcare sector in addition to the manufacturing sector.

During the meeting, the two sides explore the opportunities for cooperation in developing infrastructure, agriculture and food security, as well as the possible privatization of the state -owned Ukrainian companies, as well as the importance of logistical projects and transportation that will require large capital in the coming years, especially in roads, ports and airports, besides that sectors such as have been identified Travel, tourism, advanced technology and agriculture as direct areas of cooperation.