UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan and Gabon President Brice Oligui Nguema have signed a major agreement in Abu Dhabi. On Friday, the two leaders finalized the Comprehensive Economic Partnership Agreement (CEPA) in Qasr Al Shati. The main objective of this agreement is to ease trade between the two countries and open investment avenues. This deal will further strengthen the 50 year old relationship between the two countries.
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What will be the benefit to common people and business from the agreement?
Under this new agreement, the taxes (Tariffs) imposed on import-export of goods between the two countries will be reduced or removed completely. This will eliminate unnecessary obstacles in trade and will help in keeping the prices of goods stable. In the agreement, special rules have been made to help small and medium-sized businesses (SMEs) so that they can also operate at the international level. Apart from this, a new UAE-Gabon Business Council will also be formed to promote the private sector which will work directly on business partnerships.
Which sectors will be the special focus?
This agreement is not limited to just trade, but will bring development in many important areas. This includes sectors like agriculture and food security, logistics, infrastructure and renewable energy. Along with this, both the countries have also signed a separate MoU for the defense sector. The government has also agreed to start a program for the empowerment of women. After the implementation of this agreement, domestic legal processes will be completed and then it will start working on the ground.
important business figures
UAE’s trade and investment with Africa has grown rapidly in the last few years. It is clear from the figures given below how strong the economic relations between the two countries are becoming:
Details Figures (value) Non-oil trade between UAE and Gabon (2025) USD $320.7 million Total UAE investment in Africa (2019 to date) Over USD $110 billion UAE non-oil trade with Africa (2024) USD $112 billion
