Abu Dhabi – The UAE and Azerbaijan signed a Comprehensive Economic Partnership Agreement (CEPA) on Wednesday, in a move aimed at deepening economic ties and unlocking investment opportunities in key sectors.
The signing ceremony was witnessed by UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan and President Ilham Aliyev of Azerbaijan. The agreement was signed by Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of Foreign Trade, and Mikayil Jabbarov, Azerbaijan’s Minister of Economy.
Calling it a "significant milestone," Sheikh Mohamed emphasized the shared vision between both nations to build a resilient, innovation-driven economy that supports future growth and development.
Agreement Highlights Strategic Sectors
The CEPA is designed to expand collaboration in renewable energy, logistics, tourism, and construction services, while also strengthening supply chains and empowering SMEs and entrepreneurs.
The UAE is already Azerbaijan’s top Arab investor, with investments exceeding $1 billion. Bilateral non-oil trade surged 43% in 2024 to reach $2.4 billion, underscoring growing economic momentum.
This agreement is part of the UAE’s broader CEPA programme, which has delivered 27 deals and helped drive the country’s non-oil trade to $816 billion in 2024, as it targets $1.1 trillion by 2031.
