Dr. Thani bin Ahmed Al Zeyoudi, UAE minister of State for Foreign Trade, said that the signing of the Comprehensive Economic Partnership Agreement (CEPA) between the UAE and the Republic of the Congo is poised to significantly enhance bilateral trade, aiming to surpass $7.2 billion by 2032.
In an interview with the Emirates News Agency (WAM), Al Zeyoudi stated that the UAE stands as the first Arab trade partner of the Republic of the Congo. He highlighted that this agreement will further boost the UAE’s position as a pivotal global hub for supply chains, reinforcing its role as a vital trade gateway linking the Arab world with Europe, Asia, and Africa.
Growth in bilateral trade
The minister noted that since the establishment of diplomatic relations, the partnership between the UAE and the Republic of the Congo has flourished, with non-oil bilateral trade reaching $3.1 billion in 2024. This marks a growth rate of 4.2 percent compared to 2023, while non-oil exports from the UAE amounted to $86 million.
Sectors benefiting from CEPA
Discussing the sectors that will benefit from the CEPA, Al Zeyoudi mentioned that the agreement guarantees enhanced preferential access for Emirati products to the Congolese market, with 99.5 percent of customs items enjoying tariff exemptions. This will significantly boost the competitiveness of various UAE industries, including aluminium, polyethylene, petrochemicals, heavy machinery, ceramics, glass, iron, steel, and copper.
Read more: UAE, Congo sign CEPA to elevate bilateral non-oil trade to $7.2 billion by 2032
Strategic cooperation between sectors
Al Zeyoudi further asserted that the CEPA represents a strategic milestone in strengthening collaboration between the public and private sectors, creating new opportunities across key service industries. He pointed out that the services sector holds substantial potential to elevate economic cooperation between the two nations, being the second-largest contributor to the Republic of the Congo’s GDP, accounting for approximately 33 percent. He remarked that the Congolese government is actively enhancing this sector as part of its broader economic diversification strategy.
Expanding ties with Sub-Saharan Africa
Moreover, the minister stressed that the agreement unveils new avenues for reinforcing the UAE’s connections with Sub-Saharan Africa, a dynamic region eager to attract strategic investments for sustainable development. The Republic of the Congo is recognized as one of the most promising economies within this burgeoning area.
Moreover, he acknowledged that, as a global supply chain hub, the UAE is set to play a crucial role in assisting Congolese exporters in broadening their access to new international markets.
