The UAE and the Central African Republic have signed a Comprehensive Economic Partnership Agreement (CEPA), aimed at enhancing trade and investment opportunities.
This pact is expected to increase market access for locally produced goods in both countries by reducing or eliminating tariffs, removing trade barriers, and boosting investment in key sectors, including agriculture, infrastructure and technology.
UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan and his counterpart Faustin-Archange Touadéra, witnessed the signing of the agreement on Thursday, in Abu Dhabi.
It was signed on behalf of the UAE by Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, and on behalf of the Central African Republic by Patrick Akoloza, Minister of Trade and Industry.
The agreement highlights the UAE's growing trade network and its commitment to strengthening economic ties with African nations.
It also plays a key role in the UAE’s goal to boost non-oil trade to $1.1 trillion by 2031.
In 2024, non-oil trade between the UAE and the Central African Republic reached around $252 million, a 75 per cent increase from the previous year.
UAE President, Central African Republic President witness signing of Comprehensive Economic Partnership Agreement#WamNews https://t.co/GGXM1wQBhL pic.twitter.com/1qCp29vbvC
— WAM English (@WAMNEWS_ENG) March 6, 2025
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