With its share in foreign trade on the rise, the UAE is among the top 10 trading partners of the Eurasian Union globally

The UAE has become one of the top 10 trading partners of the Eurasian Economic Union, with its share in the union's foreign trade rising to 2% of the global total.

Andrei Slepnev, Minister of Trade in the Eurasian Economic Commission, confirmed that the Comprehensive Economic Partnership Agreement between the UAE and the Eurasian Economic Union represents a significant milestone in the economic cooperation between the two sides, noting that it will contribute to supporting trade diversification efforts and enhancing mutual investments.



He stated that the UAE is one of the key trading partners of the Eurasian Economic Union; its share in the total foreign trade of the union has risen to 2%, making it among the top ten trading partners globally.

He pointed out that the volume of the union's exports to the UAE has increased more than fourfold over the past two years, while UAE exports to the union markets have increased by over 50%, confirming that this rapid growth reflects the strength of the economic relations between the two sides.

He added that thanks to this momentum, the UAE has become a central trading hub for all union countries, surpassing major international partners such as Japan, Brazil, Egypt, and Vietnam.

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He also explained that the Comprehensive Economic Partnership Agreement aims to consolidate this growth by removing customs restrictions and expanding the range of mutual goods; where it was agreed to reduce customs duties on more than 85% of goods, which will reduce the customs protection rates on union products in the UAE market from 5% to 0.6% and on UAE products in union markets from 5.9% to 1.5%.

He clarified that the list of goods benefiting from the agreement from the union side includes metal products such as steel, aluminum, petrochemicals, consumer goods, transportation, and wood products, in addition to processed agricultural products such as dairy, sweets, and canned goods. On the other hand, the UAE will benefit from broader access to the union market in key categories, notably polymers, especially polyethylene and polypropylene, along with other consumer products such as cosmetics and household appliances.