His Excellency Dr. Thani bin Ahmed Al Zeyoudi, the Minister of Foreign Trade, emphasized that the signing of the Comprehensive Economic Partnership Agreement (CEPA) between the United Arab Emirates and Gabon marks a significant step in enhancing economic and trade cooperation between the two nations. This agreement opens new avenues for joint investment in priority sectors such as mining, food production, and services.
In a statement to the Emirates News Agency, he noted that Gabon is considered a promising economic partner for the UAE, given its stable growth drivers. In 2024, Gabon’s GDP is projected to reach approximately $20.6 billion, with an anticipated growth rate of around 3% in 2025.
The minister pointed out that natural resources are a fundamental pillar of Gabon’s economy, with raw materials accounting for more than 90% of total exports. These include oil and its derivatives, manganese used in steel production and fertilizers, as well as timber, agricultural products like cocoa, coffee, palm oil, and rubber.
He also highlighted that Gabon launched an accelerated transformation plan in 2021, worth $5.5 billion, aimed at boosting economic diversification and stimulating non-oil sectors through targeted investments in mining, forestry, and agriculture. Priority has been given to developing infrastructure, digitalization, education, skill development, and improving the business environment, thereby enhancing Gabon’s appeal for foreign direct investment.
Moreover, the CEPA is expected to increase the UAE’s presence in the resource-rich and high-potential region of West Africa, supporting the growth of bilateral trade. In 2025, non-oil trade between the two countries is set to reach around $320.7 million, showing growth compared to 2024 and more than doubling the value recorded in 2021. Key non-oil exports from Gabon to the UAE include manganese, rubber, and timber.
Al Zeyoudi outlined that the agreement aims to eliminate or reduce tariffs, minimize unnecessary trade barriers, and expand access for service exports. Additionally, it will establish a framework for digital trade and create a clear mechanism for dispute resolution, fostering a conducive business environment and stimulating mutual investments.
He added that the agreement would enhance the UAE’s position as a global hub for supply chains and a key connector between the Arab world, Europe, Asia, and Africa. It will also support collaboration between the private sectors in several service areas, including logistics, construction, engineering, healthcare, education, environmental services, financial services, and telecommunications.
Regarding the timeline for the agreement’s implementation, Al Zeyoudi explained that both parties will begin the ratification process following the signing, with the agreement set to take effect once finalized by both sides. Benefits are expected to materialize immediately upon implementation through streamlined customs procedures, reduced tariffs, and improved access of goods and services to the markets of both nations, supporting shared economic growth and strengthening the strategic partnership between the UAE and Gabon.