UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan and His Excellency Ilham Aliyev, President of the Republic of Azerbaijan, witnessed the signing of a Complete Financial Partnership Settlement (CEPA) between the 2 international locations, geared toward driving joint financial development, diversification, and prosperity as a part of the strategic relationship between the UAE and Azerbaijan.
His Highness Sheikh Mohamed bin Zayed Al Nahyan acknowledged that the CEPA displays the UAE’s dedication to constructing international improvement partnerships that contribute to sustainable development, promote peace and stability, and create alternatives for coming generations.
His Highness described the settlement as a major milestone in UAE-Azerbaijan relations, underscoring the 2 nations’ shared aspirations to construct a resilient, knowledge-based, and innovation-driven economic system that meets future calls for.
The settlement was signed by His Excellency Dr Thani bin Ahmed Al Zeyoudi, UAE Minister of International Commerce, and His Excellency Mikayil Jabbarov, Minister of Economic system of Azerbaijan.
The settlement goals to spice up funding flows and unlock alternatives in very important sectors, together with renewable vitality, tourism, logistics, and building providers. It is usually anticipated to reinforce non-public sector collaboration, strengthen provide chains, and empower entrepreneurs and small and medium enterprises to increase their operations globally.
The UAE-Azerbaijan CEPA represents a major addition to the UAE’s international commerce programme, constructing on years of shut cooperation between the 2 nations, with bilateral non-oil commerce rising 43% year-on-year to succeed in USD 2.4 billion in 2024. The UAE is a key buying and selling associate of Azerbaijan and in addition the main Arab investor in Azerbaijan, with investments exceeding USD 1 billion.
The CEPA programme is a vital pillar of the UAE’s overseas commerce agenda, which goals to extend non-oil overseas commerce to USD 1.1 trillion by 2031. In 2024, the programme contributed to the UAE’s document non-oil commerce of USD 816 billion, marking a 14.6% year-on-year improve. With 27 agreements concluded, the CEPA programme displays the UAE’s dedication to open, rules-based commerce to drive financial development and diversify its economic system, increasing alternatives for UAE companies by enhancing entry to high-growth markets all over the world that symbolize over 1 / 4 of the world’s inhabitants.
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