The UAE and Georgia have signed a Comprehensive Economic Partnership Agreement, with the aim of trebling non-oil trade from $481 million to $1.5 billion within five years.
Sheikh Mohammed bin Rashid, Vice President and Prime Minister of the UAE and Ruler of Dubai, said: “The Partnership Agreement with Georgia reflects our consistent approach to stimulating economic growth and trade and investment exchange with friendly countries, in a way that contributes to reviving international trade and helping the global economy face current challenges.”
“In the UAE, we have a firm belief that constructive international cooperation and sustainable economic growth are capable of achieving stability and peace and enhancing the quality of people’s lives,” he added.
The agreement was signed during a virtual ceremony by Dr. Thani Al Zeyoudi, UAE Minister of State for Foreign Trade, and Georgian Vice Prime Minister and Minister of Economy and Sustainable Development Levan Davitashvili.
“It is our key priority to strengthen relations with one of the leading states of the world – the United Arab Emirates,” said Prime Minister of Georgia Irakli Garibashvili.
“The UAE has always been at the avant-garde of innovations and progress, which is a significant precondition of future hope and optimism. We are confident that this new stage in the relationship of our two countries made for the benefit of our people will facilitate the intensification and simplification of trade and economic relations.”
The comprehensive partnership agreement with Georgia is the sixth for the UAE as part of its plans to double non-oil trade to AED4 trillion ($1.08 trillion) and Emirati exports to AED800 billion ($217.7 billion) by 2031.
Al Zeyoudi said: “The UAE-Georgia CEPA unites two countries that have complementary strengths – both nations are strategic crossroads for trade, both possess dynamic, rapidly-expanding service economies and both share a similar vision for attracting FDI – with policies that welcome business and promote robust growth.”
