UAE, Australia Launch CEPA to Boost Trade to $10 Billion by 2032
The United Arab Emirates (UAE) and Australia have officially launched their Comprehensive Economic Partnership Agreement (CEPA). Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of Foreign Trade, hailed it as a 'pivotal step' in boosting their economic ties.
The CEPA aims to broaden trade, encourage investments, and foster private sector collaboration across various industries. It's expected to boost annual trade from the current $4.2 billion to over $10 billion by 2032.
The agreement is Australia's first in the Middle East and North Africa (MENA) region. It builds on the existing $14 billion in mutual investments and the presence of 300 Australian companies in the UAE. In the first half of 2025 alone, non-oil trade between the two nations surged by 33.4% year-on-year to $3.03 billion.
CEPA focuses on eliminating trade barriers, simplifying market access, and establishing a framework for investment and sector-specific collaboration. Key areas include renewable energy, infrastructure, food security, and technology.
The UAE's CEPA programme is part of its larger economic vision targeting $1 trillion in total trade value and doubling its economy to over $800 billion by 2031. With CEPA in place, both nations are set to deepen their economic cooperation and capitalize on growing trade and investment opportunities. Don Farrell, the Australian Minister for Trade, played a crucial role in signing the agreement with the UAE.
