UAE-Central African Republic CEPA to target $1bn trade

The Comprehensive Economic Partnership Agreement (CEPA) between the UAE and the Central African Republic is expected to boost bilateral trade beyond $1 billion (3.67 billion dirhams) over the next five to seven years. 

The CEPA, signed last week, will create further growth and prosperity opportunities for business communities in both countries, Dr. Thani bin Ahmed Al Zeyoudi, UAE’s minister of state for foreign trade told the state-run news agency WAM. 

The agreement will offer a high level of trade liberalisation, with the UAE granting a 98% tariff removal for goods from the Central African Republic, with the latter extending a 99.5% tariff removal for UAE exports, he added. 

The CEPA offers investment opportunities across service sectors, including telecommunications, hospitality, logistics, and financial technology. 

It will also enhance trade and investment cooperation in strategic sectors such as aluminium, ceramics, petrochemicals, iron, silver, gold, food products, and textiles. 

Al Zeyoudi added that the partnership focuses on advancing collaboration in future economic sectors, particularly digital economy and advanced technology. It also paved the way for new opportunities for small and medium enterprises in both countries.

Non-oil bilateral trade reached $252 million (925 million dirhams) in 2024, rising 75% on the previous year.  The UAE’s non-oil exports to the Central African Republic include consumer goods such as food products, textiles, and electronics, as well as machinery and pharmaceuticals. The Central African Republic exports agricultural products, including coffee, cotton, and cassava to the UAE, in addition to gold and diamonds.

The UAE’s CEPA programme, launched in September 2021, aims to increase the country’s non-oil trade to $1.1 trillion by 2031. It helped gain access to high-growth markets, bumping the UAE’s trade volume by 14.6% annually to reach $816 billion in 2024.