Comprehensive Economic Partnership Agreement (CEPA) was signed between Georgia and the United Arab Emirates

On October 10, 2023, a Comprehensive Economic Partnership Agreement between Georgia and the United Arab Emirates was signed in Dubai.

The mentioned agreement was signed by the Vice Prime Minister, Minister of Economy and Sustainable Development of Georgia, H.E. Mr. Levan Davitashvili and by the Minister of State for Foreign Trade of the Emirates, H.E. Dr. Thani bin Ahmed Zeyud. The Prime Minister of Georgia, H.E. Irakli Gharibashvili and the Vice President and the Prime Minister of the UAE, the Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum participated in the signing ceremony remotely.

After the signing ceremony, a joint press conference was held, where the parties talked about the importance of this agreement. In this regard, the growing dynamics of trade and economic relations between the two countries was emphasized, which is also indicated by statistical data. In particular, according to the data of 2022, the trade turnover between Georgia and the United Arab Emirates increased by 92% compared to the previous year and reached 314.20 million. Exports increased by 51% and reached 31.12 million US Dollars. As for the import, it increased by 98% and reached 283.08 million US dollars.

After the entry into force of the agreement, 97.5% of Georgian products will enter the UAE without tariffs. A market of 10 million consumers with high purchasing power will be opened for Georgia.