UAE, Republic of Congo sign trade deal as Presidents hold talks

President His Highness Sheikh Mohamed bin Zayed Al Nahyan has reaffirmed the UAE’s commitment to enhancing trade ties with African nations following the signing of a Comprehensive Economic Partnership Agreement (CEPA) with the Republic of Congo.

The trade agreement was completed following talks with President Denis Sassou Nguesso in Abu Dhabi's Qasr Al Bahr, where the two sides discussed opportunities to strengthen bilateral cooperation.

In a post on social media, Sheikh Mohamed said the agreement reflects on the two nations' "shared commitment to sustainable development" and "will build upon the growing trade and investment ties between (the) countries".

The CEPA supports the UAE’s aim to deepen ties with strategic markets around the world as part of efforts to double the size of the UAE economy by 2031.

Today, alongside President Denis Sassou Nguesso, I witnessed the signing of a Comprehensive Economic Partnership Agreement between the UAE and Republic of the Congo. Reflecting our shared commitment to sustainable development, this agreement will build upon the growing trade and… pic.twitter.com/NOpY7Myb3Q

— محمد بن زايد (@MohamedBinZayed) April 8, 2025

Nguesso, who is on a working visit to the UAE, joined the UAE President as the agreement was signed by Dr Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, and Christian Yoka, Minister of Finance, Budget, and Public Portfolio for the Republic of the Congo.

Under the CEPA, duties will be eliminated over a period of five years on 99.5 per cent of tariff lines for UAE exports and 98 per cent of tariff lines for Republic of the Congo exports. The deal is projected to boost bilateral non-oil trade from $3.1 billion (AED 11.3 billion) recorded in 2024 to $7.2 billion (AED 26.45 billion) by 2032.

The agreement further strengthens the growing ties between the UAE and the Republic of the Congo, with non-oil trade between the two countries rising by 4.2 per cent in 2024 compared to 2023, and nearly doubling compared to 2019.

It also follows the signing of three strategic agreements between the countries in 2023, including a double taxation avoidance agreement, an investment promotion and protection agreement, and an air transport agreement.

Foreign trade remains the cornerstone of the UAE’s economic agenda. In 2024, the UAE’s non-oil trade in goods reached an all-time high of $817 billion (AED 3 trillion), marking a 14.6 per cent increase on 2023 and 56.8 per cent more than 2021. CEPAs are a critical pillar in reaching the target of $1.1 trillion (AED 4 trillion) in total non-oil trade by 2031.