The Cabinet of Ministers of Ukraine has approved a draft law that provides for the ratification of the Comprehensive Economic Partnership Agreement between Ukraine and the United Arab Emirates. This agreement paves the way for establishing a free trade regime between the two countries, which is of significant importance for Ukrainian businesses.
This is reported by Business • Media
Opportunities for Ukrainian Business and Exports
According to the document, the agreement covers nearly the entire commodity nomenclature of bilateral trade and will contribute to reducing tariff barriers, which, in turn, stimulates the growth of production and exports of Ukrainian products. It is expected that this will allow for an increase in supplies of key goods such as metallurgical products, food products, flour, and oil.
Expansion of Investment Opportunities and Digital Services
Furthermore, the UAE has lifted restrictions on the share of foreign capital for Ukraine, allowing Ukrainian entrepreneurs to register companies with foreign capital up to 70%, and in certain sectors, gradually up to 100%. In the digital sector, the agreement provides for the elimination of tariffs on data transfer and electronic content, which stimulates the development of e-commerce and information technologies.
“This is the first agreement in Ukraine’s history with the Gulf countries,” the government emphasizes.