Ukraine opens UAE free trade deal, cutting tariffs in first Gulf pact
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Ukraine launches free trade zone with UAE (Photo: Depositphotos)
A Comprehensive Economic Partnership Agreement between
Ukraine and the United Arab Emirates took effect on July 1, creating a free
trade area between the countries by removing tariffs.
Ukraine’s State Customs Service announced
the move. The agreement was signed on Feb. 17, 2025, in Abu Dhabi and ratified
by the Verkhovna Rada, Ukraine’s parliament, on Feb. 26, 2026, under law No. 4802-IX.
“The Comprehensive Economic Partnership Agreement between
the UAE and Ukraine is a landmark in the development of our economic relations.
It is designed to boost trade flows, open new opportunities for investment and
deepen cooperation in key sectors of the economy, benefiting both countries,”
UAE Minister of Foreign Trade Thani bin Ahmed Al Zeyoudi said, commenting on
the launch of the free trade area with Ukraine.
It is Ukraine’s first agreement with a Gulf state. The deal
opens goods markets in both countries. Tariffs will be removed on 99% of
Ukrainian imports of goods from the UAE and 97% of Ukrainian exports to the
UAE.
In 2025, bilateral non-oil goods trade between the UAE and
Ukraine stood at $346.8 million. The Comprehensive Economic Partnership
Agreement is intended to restore growth in that trade, which peaked at $904.4
million in 2021.
Forecasts show the agreement will add $369 million to the
gross domestic product of the United Arab Emirates and $874 million to
Ukraine’s GDP by 2031.
Ukraine’s Economy Ministry estimates that in the medium and
long term, the agreement could shift the trajectory of real GDP growth by 0.1%.
Ukrainian exports to the UAE are expected to grow in key
sectors, including metallurgy and the food industry, particularly flour milling
and vegetable oil production.
Earlier, Switzerland and India agreed on a free trade deal
after 16 years of negotiations.
In March 2025, European Commission President Ursula von der
Leyen and Prime Minister Narendra Modi agreed to conclude a free trade
agreement between the EU and India by the end of 2025.
In January 2026, the European Union and India agreed to
create a free trade area after nearly 20 years of negotiations.
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