In the medium and long term, the agreement could affect the change in the development trajectory of Ukraine’s real GDP by 0.10%.
Ukraine and the United Arab Emirates signed a joint statement on the completion of negotiations on a comprehensive economic partnership agreement. The Ministry of Economy announced this on Monday, April 29.
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The statement was signed by the First Deputy Prime Minister – Minister of Economy of Ukraine Yulia Sviridenko and the UAE Minister of State for Foreign Trade Thani bin Ahmed Al Zeyoudi.
“This is the first agreement in the most economically developed region of the Middle East. It covers not only the United Arab Emirates, but the Gulf regions as a whole. That is, it is an entry not only into the Emirates market, but An Entering the global market because the Emirates is a trade, economic, a financial center, the Emirates occupies the first steps in terms of trade logistics, “said Sviridenko.
According to him, this is not a classic free trade agreement, “it is comprehensive, that is, it includes goods, services, investments, digital trade, etc.”
After signing the application, the parties will begin the legal review of the draft agreement for signature between the governments.
According to the Ministry of Economy, in the medium and long term, the deal may affect the change in the development trajectory of real GDP by 0.10%.
The expected result of the deal is an increase in the export of metals and vegetable oils from Ukraine. Among the sectors, a high growth rate is expected in the transport sector, as well as in metallurgy, food industry, especially, flour milling and oil production.
Earlier, President Vladimir Zelensky said that the UAE has provided critical assistance to Ukraine. He then spoke on the phone with the President of the Emirates, Sheikh Mohammed bin Zayed Al Nagayan.
It was also learned that the UAE has banned Cameroon flagged ships from entering its waters. These ships can be used to transport Russian oil.
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.