Ukraine, UAE working on comprehensive economic partnership

Ukraine, UAE working on comprehensive economic partnership

Ukraine and the United Arab Emirates are working on the Comprehensive Economic Partnership Agreement.

This was discussed during the meeting of Ukraine’s First Lady Olena Zelenska and UAE President Sheikh Mohammed bin Zayed Al Nagayan, which was attended by the First Deputy Prime Minister of Ukraine, Minister of Economy Yulia Svyrydenko, Ukrinform reports, referring to the ministry's press service.

"Ukraine has plenty of opportunities for investments, which we worked on before the war. The comprehensive economic partnership agreement will cover all important areas of our economic cooperation – investments, services, digital technology, agriculture, etc. We will be grateful if the UAE finds an opportunity to provide us with long-term financial support and promote investments and projects of Emirati companies in Ukraine," Svyrydenko said.

Read also: Ukraine's First Lady meets with representatives of Ukrainian women's association in UAE

She expressed hope that the Agreement on Comprehensive Economic Partnership will enter into force as early as this year and increase the interest of Emirati businesses to invest in agriculture, energy, digital technology, manufacturing, and logistics. Due to the war, trade between Ukraine and the UAE decreased from $1.147 billion in 2021 to a mere $293.0 million in 2022.

In addition, the parties discussed cooperation in the field of food security. The war against Ukraine spread hunger in Africa. Ukraine is making every effort to restore normal exports.

"In February, we exported 6.9 million tonnes of agricultural products. In addition to this, President Zelensky initiated the ‘Grain from Ukraine’ project. Strengthening the infrastructural links between Ukrainian agriculture and the logistics capabilities of the UAE can guarantee that the UAE and Ukraine will help African countries eradicate hunger in the long term," Svyrydenko said.

Read also: Duda speaks of UAE’s “specific role” in supporting Ukraine

As Ukrinform reported earlier, the United Arab Emirates offered to supply Ukraine with 5 million energy-saving LED lamps. The first batch is expected to arrive in Ukraine in the near future.

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