UAE among top ten global trading partners for Eurasian Economic Union
He noted that the agreement will support trade diversification efforts and enhance mutual investment flows.
In statements to the Emirates News Agency (WAM), 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 percent, 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 percent. He underlined that this rapid growth reflects the strength of economic ties between the two sides.
He 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 percent of goods, which will lower customs protection rates on Union products in the Emirati market from 5 percent to 0.6 percent, and on Emirati products in Union markets from 5.9 percent to 1.5 percent.'
Slepnev clarified that the list of goods benefiting from the agreement includes, on the Union's side, metal products such as steel and aluminium, petrochemicals, consumer goods, means of transport and wooden products, in addition to processed agricultural goods including dairy products, confectionery and canned foods.
He continued, 'In contrast, 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.
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 stated, "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."
He affirmed that the UAE's logistical positioning within the North-South international transport corridor reinforces its role as a regional hub for transit trade towards the Gulf countries, India, and South Asia.
Slepnev explained that the Comprehensive Economic Partnership Agreement focuses on high-priority sectors, most notably agriculture and industry, given the strategic importance of these two sectors to both sides.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The National
an hour ago
- The National
UAE welcomes Trump's AI Action Plan, ambassador Al Otaiba says
The UAE's ambassador to the US commended the AI Action Plan unveiled by the Trump White House on Wednesday. Ambassador Yousef Al Otaiba applauded the much-anticipated artificial intelligence plan just hours after several executive orders related to the three-pillared AI strategy were signed by President Donald Trump. 'The UAE welcomes President Trump's AI Action Plan and is ready to fast track our strategic AI partnership with the US, first announced during [President Trump's] May visit to Abu Dhabi,' Mr Al Otaiba posted on social media. 'As a trusted partner, we are working closely with leading US companies to adopt and scale American technology in the UAE and beyond,' he added, referring to the 5GW UAE-US AI Campus announced in May. The UAE ambassador also reflected on the country's commitment to a $1.4 trillion investment framework in the US related to artificial intelligence infrastructure, semiconductors, energy and manufacturing. 'We are collaboratively setting a new 'Gold Standard' for securing AI models, chips, data and access – delivering lasting benefits for both our nations and the world,' he wrote. A week ago in Pennsylvania at an energy conference, White House cryptocurrency and AI adviser David Sacks also boasted about the UAE's commitment to work with the US. 'I know that our Gulf state partners will honour our security agreement,' Mr Sacks said, talking about US confidence that American-made technology would be protected in the UAE and wouldn't be diverted to potentially adversarial countries. In recent years, the UAE − the Arab world's second-biggest economy − has pursued becoming an AI front-runner, as it seeks to diversify its economy from oil. The country's efforts have resulted in the establishment of start-ups, partnerships and investments from industry leaders like Microsoft, Nvidia and OpenAI, to name a few. Through the creation of language models such as Falcon Arabic, the UAE has also sought to ensure aspects of Arabic culture are not left behind in the AI surge, with many large language models based on English-language data. In 2019, the UAE announced the establishment of a university dedicated to AI, Mohamed bin Zayed University of Artificial Intelligence.
Khaleej Times
6 hours ago
- Khaleej Times
Dubai Business Events drives continued growth in H1 2025
Dubai Business Events (DBE), the city's official convention bureau, has continued to accelerate the growth of Dubai's business events ecosystem and support the city's tourism growth in line with the Dubai Economic Agenda, D33, securing 249 successful bids in the first six months of 2025 to host events through 2025 till 2029, including major congresses and high-profile incentive programmes. This marks a 29% increase in bid submissions compared to the same period last year, with a total of 391 bids submitted year-to-date and a conversion rate of 64%, up from 58% in H1 2024. These confirmed wins are expected to bring 127,087 delegates, a 35% year-on-year increase in delegate numbers, further enhancing Dubai's global standing as a hub for international business events and the emirate's knowledge economy. This performance underlines the overwhelmingly strong response to Dubai's destination proposition and global MICE positioning. The successful bids will enable Dubai to host distinguished international conferences, congresses, and incentive meetings, with a pipeline extending into 2029. This growth reinforces the importance of business events to the Dubai Economic Agenda, D33, which is focused on doubling the size of the city's economy by 2033 and cementing its status among the world's top three cities to visit, live, and work in. Through strategic collaboration, DBE, part of the Dubai Department of Economy and Tourism, worked closely with stakeholders, partners, and local associations, including the Al Safeer Congress Ambassadors, a network of UAE-based key opinion leaders, industry professionals, and government representatives working to bring international business events within their sectors to Dubai and secure high-profile events. The Al Safeer Ambassador Programme, in partnership with the Dubai Association Centre, plays a vital role in strengthening the city's global reputation as a premier destination for meetings, incentives, and conferences, contributing significantly to bid development and success. Ahmed Al Khaja, CEO of Dubai Festivals and Retail Establishment (DFRE), said: 'Guided by the country's wise leadership, Dubai's achievement during the first half of 2025 is a testament to the city's commitment to excellence, innovation, and collaboration in business events. In collaboration with our stakeholders and partners, we continue to drive the D33 vision and make Dubai a knowledge and business global hub. The diversity and extent of events booked this year confirm Dubai's infrastructure of international standards, accessibility, and market insight. In future years, we remain committed to delivering exceptional value to event organisers and delegates, and to establishing Dubai's leadership position on the international stage.' DBE's active engagement in the international market contributed to its strong performance, with teams conducting five sales missions across Asia (China, Japan and South Korea, India) as well as Europe (France and Belgium) and North America, engaging over 50 stakeholders and partners as well as representing Dubai in key strategic industry trade shows such as IMEX Frankfurt during H1 2025. These persistent activities have kept Dubai at the top of the minds of global event organisers and garnered the interests of decision-makers and delegates worldwide across core sectors. Dubai's global stature as a preferred business events destination was further underlined by new accolades in 2025. The International Congress and Convention Association (ICCA) ranked Dubai number one globally for highest attendee number per association meeting and the city retained its number one spot in the Middle East and Africa for total number of association meetings hosted. Meanwhile, Cvent confirmed Dubai's leading position among the Top 25 Meeting Destinations in the region. These recognitions affirm the city's ability to successfully and seamlessly accommodate the needs of international organisers across all event types. Dubai's growing appeal is also reflected in its success across corporate, incentive, and association segments. Notable wins during the first half of the year include the 2029 edition of Sibos, which is expected to attract 12,000 delegates, the 2027 1st Conjoint Meeting of the Cervical Spine Research Society - Asia Pacific and Europe with 800 delegates, and the 2026 edition of the World Congress on Ultrasound in Obstetrics and Gynaecology (ISUOG), which will bring 2,000 delegates. Other association events include the 2026 Council on Tall Buildings and Urban Habitat International Conference with 1,500 delegates and the 2026 International Symposium on Electronic Art (ISEA) with 1,000 delegates. In the corporate and incentive space, Dubai secured the 2026 Africa Energy Forum with 2,000 delegates, the Herbalife Multiple Market Incentive with 2,400 delegates, and the Planisware Incentive with 1,300 delegates. Returning events include Token2049 in 2026 with 15,000 delegates. Google will also call Dubai its home for two of its flagship conferences in 2026 and 2028, with 4,000 delegates each year. These achievements were further supported by DBE's Al Safeer Programme, which contributed to 51 ambassador-led bids during the period, winning 32 to date. Through year-round engagement and close collaboration with hotels, venues, Professional Congress Organisers (PCOs), Destination Management Companies (DMCs), and other service providers, DBE continues to attract prestigious business events to Dubai. The bureau also hosted study missions and participated in international events such as IMEX Frankfurt, providing meeting planners and industry stakeholders the opportunity to experience Dubai's dynamic business events infrastructure first-hand. Through the rest of the year, DBE will continue to participate in key strategic trade shows and events including Epex, IMEX Las Vegas, IBTM Barcelona, the ICCA Middle East Summit in Bahrain and ICCA global congress in Porto, joined by partners and stakeholders to grow collaborative efforts and drive Dubai's business events positioning further.
Khaleej Times
6 hours ago
- Khaleej Times
Chinese retail apps drive nearly three-quarters of UAE eCommerce ad spend
In the first half of 2025, Chinese apps accounted for nearly three quarters (73 per cent) of all user acquisition (UA) spend in the UAE. While further behind, France (13 per cent) and India (8 per cent) are also fast emerging as significant challengers, driven by targeted campaigns and potentially expat-focused strategies. The details were revealed as AppsFlyer released the UAE findings of its annual State of eCommerce Mobile Marketing report, revealing how Chinese eCommerce apps continue to dominate UA spending in one of the world's leading mobile-first economies. The report highlights the intensifying competition overseas brands pose to local eCommerce retailers, which saw their own UA investments shrink. This likely reflects a mix of budget reallocations, mounting competitive pressure, and market consolidation. However, AppsFlyer experts note that home-grown players still have an opportunity to grow, provided they adopt clearer strategies and embrace performance-driven, localised campaigns. 'Chinese apps have long been seeking growth outside their home market, and with tariffs and global trade headwinds pushing them to diversify, the UAE has been a natural fit given its premium audience and digital maturity,' said Sue Azari, Industry Lead - eCommerce, AppsFlyer. 'At the same time, French brands are tapping into premium iOS users here, while Indian advertisers likely see the UAE's significant South Asian expat base as an affordable, yet highly engaged segment.' The report underscores how iOS is entering a breakout phase in the UAE. While by the end of this year, Android app installs are projected to grow 713 per cent since 2017, iOS is surging to over 1383 per cent over the same period, with installs expected to more than double year-on-year in 2025. iOS has also seen a marked improvement in fraud prevention, with fraud rates dropping 63 per cent year-on-year in H1 2025. By contrast Android's fraud rate jumped 234 per cent in the same period. This suggests iOS is becoming an increasingly attractive, and safer, channel for marketers, even as Android remains critical for scale. Despite the UAE's advanced mobile ecosystem, with smartphone penetration at 97 per cent and average daily mobile internet use exceeding four hours, UA ad spending by eCommerce apps declined in H1 2025. Android UA spend fell 21 per cent compared to the same period in 2024, while iOS spending was down just 6 per cent, reflecting its relative resilience. Yet, H1 2025 still delivered the largest half-year remarketing spend to date, with Q1 alone tripling Q1 2024 levels — a clear sign of the impact of seasonal spikes during Ramadan and major retail events. 'Marketers should take note of the pronounced peaks in Q1 tied to Ramadan and plan their upcoming campaigns accordingly, while building in remarketing strategies to sustain engagement beyond holiday periods,' added Azari. 'The decline in Android UA spend could also present opportunities for savvy brands to capture lower-cost inventory while still reaching a vast user base.' With Android remarketing campaigns tripling late last year and iOS installs accelerating, the UAE remains a dynamic and competitive market for mobile commerce. 'Advertisers who balance premium iOS strategies with cost-effective Android engagement, and adapt budgets around seasonal patterns, stand the best chance of standing out in a crowded field,' concluded Azari.
