Abu Dhabi: The United Arab Emirates (UAE) and Ukraine have signed a comprehensive economic partnership agreement aimed at enhancing bilateral trade and economic cooperation. The agreement was signed during a ceremony in Abu Dhabi, attended by UAE President Sheikh Mohamed bin Zayed Al Nahyan and Ukrainian President Volodymyr Zelenskyy.

According to Anadolu Agency, the state news agency WAM reported that the discussions between the two leaders focused on strengthening bilateral cooperation. Sheikh Mohamed emphasized the importance of the agreement in reinforcing the strategic ties between the UAE and Ukraine. He highlighted that it would advance bilateral trade and elevate economic cooperation to meet both countries' aspirations.

The agreement stipulates that 99% of Ukrainian imports of Emirati goods and 97% of Ukrainian exports to the UAE will be exempted from customs duties immediately. WAM reported that the partnership is expected to contribute $369 million to the UAE's GDP and $874 million to Ukraine's GDP by 2031.

In 2024, the trade volume between the two countries was recorded at $372.4 million. President Zelenskyy's visit to the UAE marks the beginning of a regional tour, which also includes Saudi Arabia and Trkiye.

The signing of this agreement comes as the Russia-Ukraine war reaches its three-year mark, following Moscow's 'special military operation' against Kyiv in February 2022. The conflict has resulted in significant casualties and displacement across both nations.