UAE, Congo sign bilateral 'comprehensive economic partnership' deal

By Ahmed Asmar

The UAE and Congo has signed a comprehensive economic partnership agreement to boost bilateral relations.

According to the Emirati news agency WAM, the agreement was signed Tuesday in Abu Dhabi in the presence of the UAE President Sheikh Mohamed bin Zayed Al Nahyan and Congolese President Denis Sassou Nguesso.

WAM quoted Sheikh Mohamed as saying that the agreement strengthens the strategic relationship between the UAE and the Republic of the Congo and broadens the horizons of joint economic cooperation.

It noted that the deal with Congo supports "the UAE’s aim to deepen ties with strategic markets around the world as part of efforts to double the size of the UAE economy by 2031."

Under the agreement, "duties will be eliminated over a period of five years on 99.5% of tariff lines for UAE exports and 98% of tariff lines for Republic of the Congo exports."

"The deal is projected to boost bilateral non-oil trade from the $3.1 billion recorded in 2024 to $7.2 billion by 2032," WAM added.