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ABU DHABI/WAM
UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan and His Excellency Ilham Aliyev, President of the Republic of Azerbaijan, witnessed today the signing of a Comprehensive Economic Partnership Agreement (CEPA) between the two countries, aimed at driving joint economic growth, diversification, and prosperity as part of the strategic relationship between the UAE and Azerbaijan.
His Highness Sheikh Mohamed bin Zayed Al Nahyan stated that the CEPA reflects the UAE’s commitment to building global development partnerships that contribute to sustainable growth, promote peace and stability, and create opportunities for coming generations.
His Highness described the agreement as a significant milestone in UAE-Azerbaijan relations, underscoring the two nations’ shared aspirations to build a resilient, knowledge-based, and innovation-driven economy that meets future demands.|
The agreement was signed by His Excellency Dr Thani bin Ahmed Al Zeyoudi, UAE Minister of Foreign Trade, and His Excellency Mikayil Jabbarov, Minister of Economy of Azerbaijan.
The agreement aims to boost investment flows and unlock opportunities in vital sectors, including renewable energy, tourism, logistics, and construction services. It is also expected to enhance private sector collaboration, strengthen supply chains, and empower entrepreneurs and small and medium enterprises to expand their operations globally.|
The UAE-Azerbaijan CEPA represents a significant addition to the UAE’s global trade programme, building on years of close cooperation between the two nations, with bilateral non-oil trade increasing 43% year-on-year to reach USD 2.4 billion in 2024. The UAE is a key trading partner of Azerbaijan and also the leading Arab investor in Azerbaijan, with investments exceeding USD 1 billion.
The CEPA programme is an important pillar of the UAE’s foreign trade agenda, which aims to increase non-oil foreign trade to USD 1.1 trillion by 2031. In 2024, the programme contributed to the UAE’s record non-oil trade of USD 816 billion, marking a 14.6% year-on-year increase. With 27 agreements concluded, the CEPA programme reflects the UAE’s commitment to open, rules-based trade to drive economic growth and diversify its economy, expanding opportunities for UAE businesses by enhancing access to high-growth markets around the world that represent over a quarter of the world’s population.