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UAE and Georgia officially begin Comprehensive Economic Partnership Agreement. The UAE and Georgia are looking to triple non-oil trade after the launch of a major economic partnership.
UAE-Georgia CEPA
The UAE-Georgia CEPA is expected to more than triple the total value of non-oil trade between the two countries to $1.5bn within five years, while adding $3.9bn to the UAE’s GDP and $291m to Georgia’s GDP by 2031.
In addition, the landmark deal is expected to substantially increase UAE exports to Georgia to reach $1.3bn by 2031, with key UAE exports set to benefit including refined sugar, electrical appliances, vehicles and parts, polymers and machinery among others.
The UAE is already Georgia’s leading trading partner in the Arab world, accounting for more than 63 per cent of its total trade with the region.
The agreement builds on robust and rapidly growing economic ties between the two countries that saw bilateral non-oil trade reach $511.2m in 2023, a growth of 6.3 per cent compared to 2022.
The UAE is also Georgia’s sixth-largest global investor, accounting for 5 per cent of its total Foreign Direct Investment (FDI) inflows.
Bilateral investment between the two countries currently stands at more than $1bn. The deal aims to accelerate investment flows in key sectors, including:
- Tourism and hospitality
- Real estate
- Renewable energy
- Retail and wholesale
- Transport and logistics
- Manufacturing
- Electrical equipment
- Construction materials
Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, said: “The implementation of our Comprehensive Economic Partnership Agreement with the Republic of Georgia is another milestone in our foreign trade agenda, aimed at strengthening bilateral relations with a dynamic, resilient and liked-minded partner, strategically located in the heart of the Caucasus region, at the intersection of Europe and Asia.
“Beyond its strategic location, Georgia presents a promising market for UAE businesses to explore, with proven demand for our key exports and offering a favourable commercial landscape. We have managed to secure a balanced deal that is a win-win for both sides and one that lays the foundations for a new partnership that leverages emerging opportunities, drives investment in priority sectors and contributes to the global economic recovery.”
The Comprehensive Economic Partnership Agreement is a vital component of the UAE’s foreign trade agenda, which seeks to establish stronger, more integrated trading relationships with the most dynamic markets around the world.
In addition to the UAE-Georgia CEPA, the United Arab Emirates has signed and implemented CEPAs with India, Indonesia, Israel, Türkiye, and Cambodia, and is in the process of concluding more deals with nations spanning Asia, Europe, Africa and South America.
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