On July 10, ministers and senior officials of the United Arab Emirates government welcomed the signing of the Comprehensive Economic Partnership Agreement (CEPA) with Azerbaijan, describing it as a strategic advancement toward building an integrated global network of economic partners.

Thani bin Ahmed Al Zeyoudi, the Minister of Foreign Trade, stated that Azerbaijan holds the position of a key partner for the UAE in the Caucasus region. He noted that in 2024, bilateral non-oil trade between the two countries rose by 36.2%, reaching $2.24 billion. Khaled Mohamed Balama, the Head of the UAE Central Bank, emphasized that CEPA would serve as an essential instrument for strengthening financial stability, enhancing banking cooperation, and advancing fintech initiatives between the two nations.

Ahmed Abdullah bin Lahej Al Falasi, the Acting Director General of the Customs and Border Service, underlined that the agreement would simplify customs procedures and bolster bilateral supply chains. Suhail bin Mohammed Al Mazrui, the Minister of Energy and Infrastructure, highlighted CEPA’s role in supporting joint renewable energy projects, including solar, wind, and hydropower initiatives.

Abdullah bin Touq Al Marri, the Minister of Economy, pointed to the agreement’s potential to expand bilateral trade, lower customs barriers, and assist Azerbaijani businesses in gaining access to markets in Africa, Asia, and Europe. Mohammed Hassan Al-Suwaidi, the Minister of Investment, added that the UAE is already the largest Arab investor in Azerbaijan, with investments exceeding $1 billion. He emphasized that CEPA “will open new opportunities for cooperation in logistics, energy, industry, and infrastructure.”