UAE deal with Eurasian Economic Union will slash tariffs as bilateral trade soars over 50%
Andrey Slepnev, Minister in charge of Trade at the Eurasian Economic Commission, said the Comprehensive Economic Partnership Agreement (CEPA) between the UAE and the Eurasian Economic Union (EAEU) represents a strategic milestone in deepening economic cooperation between the two sides.
He noted that the agreement will support trade diversification efforts and enhance mutual investment flows.
UAE and Eurasian Economic Union
Slepnev said: 'The UAE is one of the most prominent trading partners for EAEU countries, with its share in the Union's total foreign trade rising to two per cent, placing it among the top ten global trading partners for the Eurasian Union.'
He pointed out that the Union's exports to the UAE have quadrupled over the past two years, while Emirati exports to Union markets have increased by more than 50 per cent.
He underlined that this rapid growth reflects the strength of economic ties between the two sides.
Slepnev stated that the UAE, supported by this momentum, has become a key trade hub for all EAEU countries, surpassing major international partners such as Japan, Brazil, Egypt and Vietnam.
He added: 'The CEPA aims to reinforce this growth by removing customs restrictions and expanding the scope of exchanged goods.
'It was agreed to reduce customs duties on more than 85 per cent of goods, which will lower customs protection rates on Union products in the Emirati market from 5 per cent to 0.6 per cent, and on Emirati products in Union markets from 5.9 per cent to 1.5 per cent.'
Slepnev clarified that the list of goods benefiting from the agreement includes, on the Union's side:
Steel and aluminium
Petrochemicals
Consumer goods
Means of transport
Wooden products
Dairy products
Confectionery
Canned foods
The UAE will benefit from wider access to the Union market in strategic categories, most notably polymers, especially polyethylene and polypropylene, alongside other consumer products such as cosmetics and home appliances.
Slepnev noted that the agreement offers tangible opportunities for Emirati companies to expand their presence in Union markets, which comprise more than 180 million people, particularly in view of the ongoing transformations in global trade dynamics.
EAEU member states, include:
Russia
Kazakhstan
Belarus
Armenia
Kyrgyzstan
He emphasised that the UAE is a key strategic partner for the Eurasian Economic Union thanks to its distinguished geographical location, advanced infrastructure and attractive economic and investment policies.
Slepnev said: 'The UAE serves as an important trade gateway for Union countries to access Middle East and North African markets, especially given its active expansion in forging trade partnerships with many countries.'
The UAE's participation in the North-South International Transport Corridor further strengthens its regional transit role, connecting Gulf markets with India and beyond.
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