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UAE signs key economic agreement with Central African Republic to expand trade
The UAE strengthens its economic ties with African nations, recognizing the continent’s growing role in the global economy.
The UAE continues to strengthen strategic alliances with its neighboring countries, aiming to boost trade and key sectors for broader regional development.
President His Highness Sheikh Mohamed bin Zayed Al Nahyan met with Central African Republic President Faustin-Archange Touadéra in Abu Dhabi to discuss enhancing bilateral ties and expanding cooperation in economic, trade, investment, renewable energy, and infrastructure sectors.
Sheikh Mohamed welcomed President Touadéra, who is on a working visit to the UAE, and extended his Ramadan greetings, wishing continued prosperity for both nations. He reaffirmed the UAE’s commitment to deepening partnerships with African nations to drive sustainable development and shared economic growth.
Both leaders reaffirmed their shared vision for strengthening cooperation between the UAE and the Central African Republic, with a focus on driving economic growth and achieving mutual long-term goals.
As part of the meeting, the two nations signed a Comprehensive Economic Partnership Agreement (CEPA) to enhance trade and investment opportunities. Dr. Thani Bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, signed on behalf of the UAE, while Patrick Akoloza, Minister of Trade and Industry, represented the Central African Republic.
Sheikh Mohamed highlighted the CEPA as a significant milestone in bilateral relations, paving the way for expanded trade, investment, and deeper collaboration between the two countries.
President Touadéra welcomed the agreement, expressing optimism that it would deepen economic ties and support sustainable development. In addition to the CEPA, several agreements and memoranda of understanding were announced, covering investment protection, double taxation avoidance, and infrastructure development.
In 2024, non-oil trade between the UAE and the Central African Republic reached approximately $252 million, reflecting a 75% increase from the previous year. The CEPA is expected to further accelerate trade by reducing tariffs, eliminating barriers, and fostering investment in key sectors.
The agreement highlights the UAE’s commitment to strengthening economic partnerships with African nations, recognizing the continent’s expanding role in the global economy.
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