UAE, Angola sign major trade deal

The UAE and Angola have taken a major step forward in strengthening economic relations.

UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan and his Angolan counterpart João Lourenço have witnessed the exchange of a Comprehensive Economic Partnership Agreement (CEPA) between the two countries.

The pact was signed during His Highness' state visit to Angola and is expected to boost trade, investment and cooperation across multiple sectors, with a focus on expanding market access and reducing trade barriers.

Sheikh Mohamed said the CEPA reflects the UAE’s commitment to building strategic partnerships across Africa, promoting sustainable growth and creating opportunities for future generations.

Lourenço welcomed the agreement, highlighting its role in diversifying and deepening economic ties between the two countries.

The CEPA was signed by UAE Minister of Foreign Trade Dr. Thani Al Zeyoudi and Angolan Minister of Industry and Commerce Rui Oliveira.

It comes as non-oil trade between the UAE and Angola reached over $2 billion in 2024, with a nearly 30 per cent increase in the first half of this year.

The two sides also announced several agreements and MoUs covering diverse areas, including artificial intelligence, political consultations, diplomatic cooperation, tourism, investment, renewable energy, culture, education, labour, sports, health, climate action and technology, among other fields that serve the development aspirations of both countries.