In a recent development bolstering its expanding trade network, the United Arab Emirates (UAE) has finalized negotiations for a bilateral trade agreement with the Republic of Congo.
Announcing the successful negotiations, Thani Al Zeyoudi, the UAE’s trade minister, expressed enthusiasm about the Comprehensive Economic Partnership Agreement reached with the Republic of Congo-Brazzaville.
Al Zeyoudi emphasized the nation’s thriving economy in West-Central Africa and highlighted the importance of this agreement, describing Congo as a valued trade and investment partner for the UAE.
The UAE has been proactive in initiating bilateral trade, investment, and cooperation agreements since 2021. These agreements, termed Comprehensive Economic Partnership Agreements, are part of a strategic effort to diversify income sources and bolster various economic sectors within the UAE.
Notably, last week saw the UAE, a key global oil exporter and member of the Organization of the Petroleum Exporting Countries (OPEC), finalizing talks for a trade deal with Mauritius.
This accord stands as the UAE’s inaugural trade agreement with an African country, underlining the country’s commitment to fostering economic ties across the African continent.
