Ukraine to Ratify Economic Partnership Agreement with the UAE
On April 29, the Government of Ukraine approved a draft law to ratify the Comprehensive Economic Partnership Agreement between Ukraine and the United Arab Emirates (UAE), The Gaze reports, citing the Ministry of Economy of Ukraine.
The next step is to submit the draft law for ratification by the parliament, the Verkhovna Rada of Ukraine.
The agreement establishes a free trade regime between Ukraine and the UAE by liberalizing access to goods and services markets for both countries. Ukrainian goods will receive full liberalized access to the UAE market.
“The implementation of the agreement, which covers almost the entire commodity nomenclature of bilateral trade, will support the growth of Ukrainian production and exports through reduced tariff barriers between the two countries. We hope for parliamentary support in approving this bill,” — said First Deputy Prime Minister – Minister of Economy of Ukraine Yuliia Svyrydenko.
The agreement is expected to increase Ukrainian exports in key sectors such as metallurgy and the food industry — particularly flour milling and oil production. Exports of metals and vegetable oils are also projected to rise.
Importantly, the UAE has lifted the 49% cap on foreign capital for Ukrainian businesses, allowing them to register companies with up to 70% foreign ownership, and in specific sectors — such as commercial services, construction, education, healthcare, and accounting — gradually increase that to 100%.
In free economic zones, Ukrainian companies will be able to own businesses outright, a significant step for Ukrainian business development in the region.
The agreement also opens new doors for digital trade, eliminating duties on digital and electronic data transfers, including digital content.
Ukraine and the UAE signed the Comprehensive Economic Partnership Agreement on February 17, 2025, in Abu Dhabi, during the official visit of President Volodymyr Zelenskyy. The document was signed by Yuliia Svyrydenko for Ukraine and Minister of State for Foreign Trade Thani bin Ahmed Al Zeyoudi for the UAE. This is Ukraine’s first agreement of this kind with a Gulf country.
As The Gaze previously reported, Volodymyr Zelenskyy and First Lady Olena Zelenska arrived on an official visit to the United Arab Emirates on February 17 and discussed Prisoner Release, Bilateral Cooperation, and Food Security.