Image courtesy: WAM
The UAE and Azerbaijan signed a comprehensive economic partnership agreement (CEPA), marking a new chapter in bilateral relations aimed at driving economic growth, diversification, and investment across strategic sectors.
The agreement was signed during an official ceremony witnessed by UAE President Sheikh Mohamed bin Zayed Al Nahyan and Azerbaijani President Ilham Aliyev, in what both sides hailed as a significant step forward in their long-standing economic and diplomatic partnership.
In a report published on state news agency, WAM, Sheikh Mohamed said the CEPA reflected the UAE’s commitment to building global development partnerships that contribute to sustainable growth, promote peace and stability, and create opportunities for coming generations.
Signed by UAE Minister of Foreign Trade Dr Thani bin Ahmed Al Zeyoudi and Azerbaijan’s Minister of Economy Mikayil Jabbarov, the agreement is designed to enhance trade and investment flows, strengthen private sector collaboration, and unlock new opportunities in sectors including renewable energy, tourism, logistics, and construction.
UAE-Azerbaijan CEPA to boost trade and bilateral relations
The UAE-Azerbaijan CEPA is expected to empower small and medium-sized enterprises (SMEs), streamline supply chains, and foster innovation-led economic cooperation between the two nations.
It builds on a robust bilateral trade relationship, with non-oil trade between the two countries reaching $2.4bn in 2024, a 43 per cent increase year-on-year.
The UAE is currently the leading Arab investor in Azerbaijan, with total investments exceeding $1bn.
UAE’s CEPA programme
The deal is part of the UAE’s broader CEPA agenda, which has become a key pillar of the country’s foreign trade strategy.
With 27 agreements now concluded, the CEPA programme aims to grow the UAE’s non-oil foreign trade to $1.1tn by 2031.
In 2024 alone, the CEPA programme helped drive the UAE’s non-oil trade to a record $816bn, a 14.6 per cent year-on-year increase.
Officials said the CEPA would enhance market access and trade flows with high-growth economies representing over a quarter of the world’s population.
