The United Arab Emirates and Azerbaijan have signed a Comprehensive Economic Partnership Agreement (CEPA), 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, President of UAE, 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.
Sheikh Al Nahyan 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 CEPA program is an important pillar of the UAE’s foreign trade agenda, which aims to increase non-oil foreign trade to $1.1 trillion by 2031. In 2024, the programme contributed to the UAE’s record non-oil trade of $816 billion, marking a 14.6 percent year-on-year increase.
With 27 agreements concluded, the CEPA program 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.
