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Ukraine and UAE work on a comprehensive economic partnership

07.03.2023 | 20:13 | Section for Public and Mass Media Relations

The basic principles of bilateral economic partnership between the countries were discussed during a meeting between First Lady of Ukraine Olena Zelenska and President of the UAE Sheikh Mohamed bin Zayed Al Nahyan attended by First Deputy Prime Minister – Minister of Economy of Ukraine Yuliia Svyrydenko.

“Ukraine has multiple investment opportunities that we were working on before the war. The Comprehensive Economic Partnership Agreement will cover all important areas of our economic cooperation, namely investment, services, digital technologies, agriculture, etc. We will be grateful to the Emirates for finding an opportunity to provide us with long-term financial support and promoting investments and projects of Emirati companies in Ukraine,” said Yuliia Svyrydenko.

The First Deputy Prime Minister expressed hope that the Comprehensive Economic Partnership Agreement would enter into force this year and increase the interest of Emirati businesses in investing in agriculture, energy, digital technologies, manufacturing and logistics. Due to the war, turnover between Ukraine and the UAE decreased several times, from USD 1,147 billion in 2021 to USD 293.0 million in 2022.

The parties also discussed cooperation in the field of food security. The war against Ukraine has 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 Zelenskyy initiated the Grain from Ukraine project. Strengthening the infrastructure ties between Ukrainian agriculture and the logistics capabilities of the Emirates can ensure that the UAE and Ukraine will help African countries eradicate hunger in the long run,” said Yuliia Svyrydenko.

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