HH Sheikh Abdullah bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Foreign Affairs of the UAE, and Penny Wong, Australian Minister for Foreign Affairs, participated in the signing of a Comprehensive Economic Partnership Agreement (CEPA) between the two nations. This agreement marks a significant advancement in their bilateral relations, designed to enhance trade, foster private-sector collaboration, and promote investment flows. The signing occurred during Sheikh Abdullah’s working visit to Canberra and was executed by Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, and Don Farrell, Australia’s Minister for Trade and Tourism. Attendees included senior officials from both governments. Once ratified, this will be Australia’s inaugural trade agreement with a country from the Middle East and North Africa, with projections suggesting that non-oil trade between the UAE and Australia will exceed $15 billion by 2032, a substantial increase from the $4.23 billion in 2023. Sheikh Abdullah remarked that the CEPA exemplifies a commitment to strengthen global cooperation and economic ties. The UAE is Australia’s primary trading partner in the Middle East and the 20th largest partner globally, with further agreements signed during the UAE delegation’s visit focusing on investment in key sectors such as renewable energy, infrastructure, and agriculture.
