The UAE and Australia are discussing ways to enable the private sector to benefit from the comprehensive economic partnership agreement
Abu Dhabi, August 28 / WAM / His Excellency Dr. Thani bin Ahmed Al -Zyoudi, Minister of Foreign Trade, met the Australian Business Council in the UAE to discuss ways to enable the private sector to make effective from the opportunities provided by the comprehensive economic partnership agreement between the two countries.
This meeting comes as an affirmation of the ongoing efforts to achieve the best possible benefit from the advantages of the agreement that was signed in November 2024, while the necessary procedures are currently completing its entry into force soon.
During the meeting, His Excellency Al -Zyoudi stressed the importance of Australia as a major commercial partner for the UAE, noting that the volume of non -oil intra -trade exceeded $ 4.2 billion in 2024. While its value increased in the first half of 2025 to 3.03 billion dollars, a record annual increase of 33.4%.
His Excellency affirmed the UAE’s commitment to strengthening commercial and investment ties with Australia, which paves the way for growth and mutual prosperity in the coming years.
“The UAE is the first commercial and investment partner for Australia in the Middle East, and it ranks 20th in the world,” he said.
He added, “Today’s discussions focused on how to enable the private sector to fully benefit from the comprehensive economic partnership agreement and promotion of trade and investment between the two countries.” His Excellency explained that when the agreement enters into force, it will create extensive opportunities for companies, investors and entrepreneurs in the country. By removing or reducing customs duties and raising commercial barriers, and enhancing market access, we can double the size of our trade three times, from $ 4.2 billion in 2024 to $ 10 billion by 2032.
The comprehensive economic partnership agreement between the UAE and Australia is the first trade agreement for Australia with a country in the Middle East and North Africa region, in addition to the foreign trade strategy of the UAE and its efforts to expand its network of commercial partners around the world.
The agreement provides great and promising opportunities for growth, especially with the presence of more than 300 Australian companies operating in the Emirates in various sectors, including construction, financial services, agriculture and education.
The UAE has also signed an agreement on encouraging and protecting investments and five memoranda of understanding aimed at accelerating the flow of capital to the vital sectors, including renewable energy, infrastructure, artificial intelligence, mining and agriculture.
Australia exports to the UAE a wide range of products, including alumina, coal, steel, meat, dairy and seafood.
The comprehensive economic partnership agreements program is a basic pillar in the growth strategy of the UAE, which aims to raise the total value of trade to 4 trillion dirhams by 2031.
The agreements signed so far include countries in the Middle East, Africa, Southeast Asia, South America and Eastern Europe, covering about a quarter of the world’s population. The UAE and Australian agreement is currently undergoing ratification procedures for both sides, in preparation for its entry into force later.
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