UAE reaches trade agreement with Congo, after Mauritius
The United Arab Emirates (UAE) has concluded negotiations for a bilateral trade agreement with the Republic of Congo, marking the second such deal with an African state in a week. This achievement follows the recent announcement of a trade deal with Mauritius, making it the first such agreement with an African country.
Thani Al Zeyoudi, the UAE's trade minister, expressed on X (formerly Twitter), "The breadth of the UAE’s trade network continues to broaden as we conclude negotiations toward a Comprehensive Economic Partnership Agreement with the Republic of Congo-Brazzaville – a thriving economy in West-Central Africa and valued trade and investment partner."
Since 2021, the UAE has actively pursued Comprehensive Economic Partnership Agreements, focusing on bilateral trade, investment, and cooperation deals. These efforts align with the UAE's strategy to diversify income sources and enhance collaboration across various economic sectors. The recent agreements underscore the UAE's commitment to expanding its trade network and strengthening economic ties with African nations.
Points clés à retenir
Congo-Brazzaville, officially known as the Republic of the Congo, is situated in West-Central Africa and shares borders with Gabon, Cameroon, the Central African Republic, the Democratic Republic of the Congo, and Angola. In 2022, the total value of non-oil trade between the United Arab Emirates (UAE) and Congo-Brazzaville amounted to approximately $2.2 billion. This represented a 5% growth compared to 2021 and a substantial 29% increase compared to 2020. As of 2022, Congo-Brazzaville stands as the 12th largest trading partner of the UAE among non-Arab African countries. Within this trade relationship, the UAE holds the eighth-largest position as an export market for Congo-Brazzaville and ranks 13th as an import market. Notably, the UAE accounts for about 72% of Congo-Brazzaville's non-oil trade with Arab countries. This partnership reflects the growing economic ties and collaborative efforts between the UAE and African nations.
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