During the official visit of the President of Ukraine Vladimir Zelensky, an agreement on a comprehensive economic partnership of the two countries was concluded to the United Arab Emirates (UAE). Such a document is as much as possible to access almost all Ukrainian goods to the market of this country of the Persian Gulf, including, in particular, services, investments and digital trade.

According to the Ministry of Economics, Ukraine for the first time in history entered into such an agreement with the country of the Gulf. It can contribute to the preservation of a positive balance of trade in goods (in 2023 it amounted to $ 51.5 million), and in the average and long-term perspective, it can affect the displacement of the development path of real GDP by 0.1%.

In particular, after signing the agreement, trade and investments will be significantly liberalized, and Ukrainian goods will receive full access to the UAE market for 96.6% of commodity lines. In addition, this opens up new opportunities for business, since the agreement covers not only trade in goods, but also services, investments and digital economies. In particular, Ukrainian companies will receive:.

This will increase the indicators of Ukrainian exports in key sectors: metallurgy, food industry, in particular, flour production and oil production. The increase in the export of metals and vegetable oil is also predicted.

The UAE has already removed for Ukraine restrictions on the share of foreign capital in 49%. This will allow entrepreneurs to register companies with foreign capital up to 70%, and in certain sectors gradually up to 100% (in particular in the field of commercial services, construction, education, healthcare and accounting). At the same time, in free economic zones, Ukrainian companies will be able to own business by 100%, which is an important step for the development of Ukrainian business in this region.

A comprehensive economic partnership opens up new opportunities for digital trade: duties on digital and electronic data transfer, including electronic content were canceled. Liberates on digital payments, the protection of personal data and the creation of transparent rules for a business developing digital economy and cross -border trade are fixed.

It should be noted that by the beginning of a full -scale Russian invasion, trade between Ukraine and the UAE amounted to $ 1.15 billion. USA. Due to Russian aggression, it decreased, but every year it grows again. For the first 11 months of last year, the turnover between the countries amounted to $ 415 million (the export of Ukraine to the UAE - $ 266.8 million and imports - $ 148.2 million).

In addition, during an online press conference with Ukrainian journalists, President of Ukraine Volodymyr Zelensky said that the UAE will become a partner of Ukraine in building food hubs in Africa. They plan to create it in Egypt.

" This (food. - Ed. ) hubs on the territory of the African continent. The first partner was found - this is the UAE, ”the head of state said.