The United Arab Emirates and Australia have officially launched their comprehensive economic partnership agreement, which took effect on Wednesday. This marks the beginning of a new phase in economic collaboration, opening up broader opportunities for trade in goods and services, enhancing the role of the private sector, and stimulating investments in mutually beneficial sectors.
The agreement aims to increase non-oil bilateral trade from $4.2 billion in 2024 to over $10 billion annually by 2032.
During the first half of 2025, bilateral trade reached $3.03 billion, representing an annual growth rate of 33.4%.
This agreement is expected to sustain this growth by reducing unnecessary trade barriers, facilitating market access for goods and services, and establishing a robust framework for investment and cooperation, thus enhancing opportunities in priority sectors.
Dr. Thani bin Ahmed Al Zeyoudi, Minister of Foreign Trade, stated that the implementation of this comprehensive economic partnership signifies a crucial step in deepening and enhancing the economic relationship between the UAE and Australia, paving the way for new avenues of cooperation and growth.
He also mentioned that this agreement strengthens trade relations and creates opportunities for attracting new investments in key sectors, including renewable energy, infrastructure, food security, and technology.
The UAE is Australia’s largest trading partner in the Middle East, ranking 20th globally.
This agreement is Australia’s first trade deal with a country in the Middle East and North Africa region.
Mutual investments between the two countries amount to approximately $14 billion, with around 300 Australian companies operating in various sectors within the UAE market, indicating a solid foundation for further economic growth.
The comprehensive economic partnership agreements are a vital aspect of the UAE’s economic strategy, which aims to boost non-oil trade to 4 trillion dirhams by 2031 and double its economy to exceed $800 billion in the same year.
This agreement with Australia is part of a total of 31 agreements completed thus far, enhancing trade links and expanding access for Emirati companies to key markets around the globe.