UAE, Georgia to leverage trade & investment opportunities
Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, UAE, met Irakli Garibashvili, Prime Minister of Georgia, recently. This meeting took place during a bilateral meet in Tbilisi between as the two nations seek to leverage the trade and investment opportunities created by the recently signed CEPA. The UAE Minister also met Levan Davitashvili, Georgia’s Vice PM and Minister of Economy and Sustainable Development, to explore ways to progress the value of non-oil trade beyond the target of US$1.5 billion by 2028. The meetings were held on the sidelines of the ‘Tbilisi Silk Road Forum,’ a trade and investment summit. Dr. Al Zeyoudi and Garibashvili heralded the deal as a major boost to UAE-Georgia economic relations, and promised to work together to ensure both sides can derive maximum benefit from the improved market access provisions. The CEPA, signed in the UAE on 10 October 2023, reduces customs duties on 95 per cent of product lines and is projected to add US$3.9 billion to UAE GDP by 2031.