UAE, Ukraine explore investment opportunities following CEPA signing

Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, hosted a business roundtable that brought together UAE government officials, leading UAE businesses, and investment groups with a high-ranking Ukrainian delegation led by Yuliia Svyrydenko, First Deputy Prime Minister and Minister of Economy.

The meeting focused on exploring promising investment opportunities in Ukraine, with a particular emphasis on infrastructure projects, under the Comprehensive Economic Partnership Agreement (CEPA) between the two nations.

The UAE-Ukraine CEPA, signed in the presence of President His Highness Sheikh Mohamed bin Zayed Al Nahyan and President Volodymyr Zelenskyy of Ukraine, aims to strengthen bilateral trade relations and investment flows between the two nations and is expected to add approximately US$369 million to the UAE's GDP and US$874 million to Ukraine's GDP by 2031.

The CEPA will also help to accelerate Ukraine's economic recovery, creating new opportunities for collaboration across sectors such as infrastructure, heavy industry, aviation, and information technology.

Al Zeyoudi emphasised the significance of the gathering, stating, "This roundtable not only demonstrates our commitment to enhancing economic ties with Ukraine but will also accelerate the mutual benefits that our newly signed CEPA offers. Designed to be broad-based, the CEPA opens opportunities for strategic investments across vital sectors such as infrastructure, agriculture, and technology, while enabling start-ups and promoting knowledge exchange between our two nations.

"With its pro-growth reforms and potential accession to the EU, we foresee enhanced appeal in Ukraine as an investment destination, with vast scope to build on our existing joint FDI stock of $360 million."

Yulia Svyrydenko emphasised that signing the CEPA with the UAE, followed by a broad meeting with business leaders from both sides to discuss optimal ways to leverage this agreement, marks a new era of friendship and paves the way for joint development.

She stated that there is great opportunity for the private sector and business communities in both nations and that they will play a pivotal role in advancing trade and investment relations, particularly in sectors with the greatest potential for future growth, such as energy projects, logistics, transportation, healthcare, and manufacturing.

The roundtable explored specific opportunities in infrastructure development, agriculture and food security, as well as the potential privatisation of large-scale state-owned Ukrainian enterprises.

Outlining the mechanisms for investment covered by the CEPA, discussions underscored the importance of logistics and transport projects, which will require substantial capital in the coming years, particularly in roads, ports, and airports. Additionally, sectors such as travel and tourism, advanced technology, and agriculture were identified as immediate areas of collaboration.

The successful conclusion of the roundtable further strengthened the bilateral ties between the UAE and Ukraine, building on the CEPA and the 28 Memoranda of Understanding signed between the two countries in 2021, valued at over $3 billion. The expanding partnership will lay the foundation for enhanced economic collaboration and mutual growth in a rapidly evolving global landscape.

Follow Emirates 24|7 on Google News.