HH Sheikh Abdullah bin Zayed Al Nahyan, UAE’s Deputy Prime Minister and Minister of Foreign Affairs, and Penny Wong, Australian Minister for Foreign Affairs, were present for the signing of a Comprehensive Economic Partnership Agreement (CEPA) between their countries. This landmark agreement aims to advance bilateral relations by boosting trade, enhancing private sector collaboration, and facilitating investment flows.
The signing occurred during Sheikh Abdullah’s visit to Canberra, with Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, and Don Farrell, Australian Minister for Trade and Tourism, as the signatories. Attendees included Saeed Mubarak Al Hajri, Assistant Minister for Economic and Commercial Affairs, and Dr. Fahad Obaid Mohamed Altaffag Almarashda, UAE Ambassador to Australia, along with other officials.
Once ratified, this will be Australia’s inaugural trade agreement with a nation from the Middle East and North Africa, representing a substantial addition to the UAE’s CEPA program. It anticipates non-oil trade between the two nations to exceed $15 billion by 2032, a significant increase from $4.23 billion in 2023.
Sheikh Abdullah emphasized that the CEPA underscores the commitment to fostering cooperation and mutual benefits between the UAE and Australia. The two countries also signed six additional agreements to strengthen ties across various sectors, including green energy and agriculture.
