The United Arab Emirates has undertaken an ambitious trade expansion strategy through its Comprehensive Economic Partnership Agreement (CEPA) programme, which serves as a cornerstone of the nation’s economic diversification agenda. Among the 32 CEPA agreements concluded by the UAE, three partnerships with Cambodia, Georgia, and Jordan represent strategic bridges to emerging markets across Southeast Asia, the Caucasus, and the Arab world. These agreements form part of the UAE’s broader vision to double its economy to USD 800 billion by 2030 and achieve over USD 1.1 trillion in total non-oil trade value by 2031.
The CEPA programme has already yielded significant results, contributing to the UAE’s record non-oil trade of USD 816 billion in 2024, reflecting a 14.6 percent increase from 2023. With 32 concluded agreements, the programme expands access for UAE businesses to over a quarter of the world’s population. The agreements with Cambodia, Georgia, and Jordan are particularly significant as they open doors to diverse regional markets and establish the UAE as a global economic hub connecting Asia, Europe, and the Middle East.
Background on the CEPA Agreements
UAE- Cambodia CEPA
The UAE- Cambodia CEPA was signed on June 8, 2023, witnessed by Cambodia’s Prime Minister Hun Sen, and officially entered into force on January 31, 2024. The agreement was signed by Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, and Pan Sorasak, Cambodia’s Minister of Commerce. This partnership builds on strong bilateral trade ties that reached a record USD 407 million in 2022, marking a 33 percent increase from 2021 and a 28 percent surge compared to 2019. The UAE is also a top trading partner for Cambodia in the Arab, accounting for 70 percent of its trade with the region in 2022.
Neak Oknha Kith Meng, President of the Cambodia Chamber of Commerce, described the agreement as providing the foundational policy instrument designed to raise non-oil trade beyond USD 1 billion by 2030. He noted that the CEPA is fundamentally synergistic as it secures a vital economic gateway for the UAE into the dynamic ASEAN market of 680 million consumers, while offering Cambodia preferential access required to diversify its reliance and integrate into the crucial GCC hub.
UAE- Georgia CEPA
The UAE- Georgia CEPA was signed on October 10, 2023, during a virtual ceremony witnessed by Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and Irakli Garibashvili, Prime Minister of Georgia. The agreement was signed by Dr. Thani bin Ahmed Al Zeyoudi and Levan Davitashvili, Georgia’s Vice Prime Minister and Minister of Economy and Sustainable Development. The CEPA officially entered into force on June 27, 2024.
This agreement builds on growing UAE- Georgia economic relations that resulted in non-oil trade beyond USD 225 million in the first half of 2023, with 28 percent growth compared to the first half of 2022. Total non-oil bilateral trade reached USD 481 million for the full year of 2022, up 115 percent from 2021. The UAE now accounts for over 63 percent of Georgia’s trade with Arab countries and is Georgia’s sixth-largest global investor, representing five percent of its total foreign direct investment.
According to Georgia’s Deputy Minister of Economy and Sustainable Development, Irakli Nadareishvili, the CEPA has opened a new chapter in bilateral relations, paving the way for stronger trade and investment ties. The partnership reflects Georgia’s growing commitment to deepen economic cooperation with the UAE across key sectors.
UAE- Jordan CEPA
The UAE- Jordan CEPA represents a historic milestone as the first CEPA signed between the UAE and an Arab nation. The agreement was signed on October 6, 2024, during a ceremony held at Basman Palace in Amman, witnessed by President His Highness Sheikh Mohamed bin Zayed Al Nahyan and His Majesty King Abdullah II bin Al-Hussein of Jordan. Dr. Thani bin Ahmed Al Zeyoudi and Yarub Falah Al-Qudah, Jordan’s Minister of Industry, Trade and Supply, signed the agreement on behalf of their respective countries.
The CEPA officially came into force on May 15, 2025, following three rounds of negotiations. The agreement was finalized swiftly, underscoring the shared commitment of both countries to quickly realize its benefits. In 2024, non-oil trade between the two countries reached approximately USD 5.62 billion, reflecting impressive year-on-year growth of 34.1 percent compared to 2023.
Jordan has been a vital partner for the UAE for many years, with bilateral non-oil trade experiencing tremendous growth over the last decade, increasing by 138 percent. The UAE is Jordan’s fifth-largest trading partner globally, while the UAE remains the largest foreign investor in Jordan, with mutual investments estimated at approximately USD 22.5 billion.
Aims of the CEPA Agreements
Expanding Market Access and Trade Liberalization
A primary aim of all three CEPA agreements is to substantially eliminate tariffs and reduce non-tariff trade barriers. The UAE- Cambodia CEPA guarantees improved access for UAE products to the Cambodian market, covering 92 percent of customs tariff lines and over 93 percent of the value of non-oil trade. Similarly, the UAE- Georgia CEPA covers over 92 percent of tariff lines by removing or reducing customs duties on 95 percent of product lines, which cover more than 90 percent of the total non-oil bilateral trade between the two countries.
The UAE- Jordan CEPA maintains levels of goods trade liberalization between the two sides at more than 98 percent of tariff items, covering more than 99.5 percent of UAE goods exported to Jordan. Under this agreement, both countries have agreed to adopt the same preferential tariff treatment currently applied under the Greater Arab Free Trade Agreement (GAFTA) for originating goods traded between them, with all customs duties on such goods eliminated from the date the agreement entered into force.
Increasing Bilateral Trade Targets
Each CEPA sets ambitious targets for bilateral non-oil trade growth. The UAE- Cambodia CEPA aims to more than double non-oil bilateral trade from USD 407 million in 2022 to USD 1 billion within five years. The UAE- Georgia CEPA aims to more than triple the total value of non-oil trade between the two countries from USD 481 million to USD 1.5 billion within five years. The UAE- Jordan CEPA sets the most ambitious target, aiming to boost bilateral non-oil trade to over USD 8 billion by 2032.
Facilitating Investment Flows
The agreements are designed to encourage bilateral investments by offering a conducive environment for investors. The UAE- Cambodia CEPA holds significant potential for mutual investments, providing opportunities for business communities to enter into investment partnerships in sectors including tourism, logistics, infrastructure, and renewable energy. Currently, the UAE invests over USD 3 million in Cambodia, compared to USD 1 million in direct foreign investment from Cambodia.
The UAE- Georgia CEPA aims to accelerate capital flow into high-priority sectors such as tourism, retail, logistics, and manufacturing. Investment between the two countries currently stands at over USD 1 billion. The UAE- Jordan CEPA reaffirms both sides’ commitment to protect investment under the existing Bilateral Investment Treaty from 2009 and establishes a Technical Council on Investment to promote and enhance investment flows.
Supporting Small and Medium-Sized Enterprises
All three CEPAs include provisions specifically designed to support Small and Medium-sized Enterprises (SMEs). These agreements offer SMEs platforms to expand their reach, access new markets, and contribute significantly to the economic growth of both nations. The agreements recognize the specific needs of SMEs and seek to support their internationalization by making it easier for entrepreneurs to grow their businesses and attract investment.
Enhancing Service Sector Cooperation
The CEPAs focus on the service sector, enhancing market access for UAE service providers. The agreements facilitate collaboration in areas such as finance, healthcare, education, tourism, and other service-oriented industries. The UAE- Jordan CEPA aims to facilitate the gradual liberalization of services markets in a manner consistent with domestic laws and regulations, providing a framework for predictable rules across a wide range of sectors including professional, financial, logistics, maritime, travel and tourism, and air transport services.
Key Features of the CEPA Agreements
Streamlined Customs Procedures
All three CEPAs include measures to facilitate cross-border trade through simplified and expedited customs procedures. The agreements align with the World Trade Organisation’s Trade Facilitation Agreement and the guidelines of the World Customs Organisation. These measures reduce the time and costs associated with cross-border trade, making it easier for goods to move across borders in a simple, less costly, and timely manner.
The UAE- Jordan CEPA establishes a Customs Cooperation and Mutual Administrative Assistance Agreement that provides the legal basis for wide-ranging and future arrangements to recognize the Authorized Economic Operators programme of each side. This facilitates increased bilateral trade flows by reducing tariffs, removing trade barriers, and aligning customs procedures, including re-exports.
Digital Trade Provisions
The agreements bring greater coherence to the continuously evolving digital trading landscape integral to today’s global economy. The UAE- Jordan CEPA includes disciplines such as maintaining the practice of not imposing any customs duties on electronic transactions, reaffirming the importance of cybersecurity, and providing for an economic collaboration framework on digital trade issues. These provisions enhance confidence in digital trade and ensure that digital trade flows benefit both businesses and consumers.
Intellectual Property Rights Protection
The CEPAs complement existing international principles and standards for the treatment, protection, and enforcement of Intellectual Property Rights in a manner conducive to invention, innovation, and creativity. These provisions provide certainty and protection for businesses engaging in cross-border trade and investment.
Rules of Origin
A significant feature of the UAE- Jordan CEPA is that it marks the first agreement to extend preferential tariff treatment to qualifying goods originating from free zones. Goods produced in both countries, including free zones, shall benefit from the agreement, provided they meet the prescribed rules of origin and comply with health, safety, and relevant technical requirements. This represents a notable expansion beyond the GAFTA Agreement, which did not previously offer this benefit.
Comprehensive Agreement Structure
The CEPAs are comprehensive in scope. The UAE- Cambodia CEPA includes 18 chapters covering trade in goods, rules of origin, customs procedures and trade facilitation, sanitary and phytosanitary measures, trade barriers, trade in services, digital trade, intellectual property rights, and economic cooperation. The UAE- Georgia CEPA similarly includes 18 chapters. The UAE- Jordan CEPA includes 16 chapters with similar comprehensive coverage.
Impact of the CEPAs: Benefits and Gains for the UAE
Strategic Market Access
The three CEPAs provide the UAE with strategic access to diverse and growing markets. The Cambodia CEPA secures a vital economic gateway into the dynamic ASEAN market of 680 million consumers. Georgia’s network of free trade agreements provides duty-free access to over 2.3 billion consumers in markets including the EU, UK, China, Turkey, and the Commonwealth of Independent States region. This positions Georgia as a gateway to broader European and Asian markets for UAE businesses.
The Jordan CEPA strengthens the UAE’s position in the Arab world and provides enhanced access to a key regional market. Dr. Thani bin Ahmed Al Zeyoudi noted that the UAE- Cambodia CEPA strengthens the UAE’s growing role in the east-west trade corridor and will expand the UAE’s presence in the rapidly growing economies of Southeast Asia, opening new doors for exporters to reach millions of consumers.
Enhanced Export Opportunities
The agreements are expected to substantially increase UAE exports to partner countries. The UAE- Georgia CEPA is expected to increase UAE exports to Georgia to reach USD 1.3 billion by 2031, with key UAE exports set to benefit including refined sugar, electrical appliances, vehicles and parts, machinery, oils and lubricants. The tariff reduction has been significant, with about 95 percent reduction from Georgia’s side while 99 percent is given by the UAE to Georgian products.
For Cambodia, the UAE benefits from new export opportunities in machinery, oils and lubricants, cars and automotive parts. Cambodia also benefits from the UAE’s global connectivity and ability to re-export goods to more than 400 cities around the world. The UAE- Jordan CEPA is expected to significantly boost UAE exports across multiple sectors.
Sector-Specific Benefits
The CEPAs create significant opportunities across various priority sectors. The UAE- Cambodia CEPA identifies priority sectors for UAE businesses including infrastructure and logistics, where Cambodia is accelerating efforts to become a regional transport hub; tourism, which is seeing growing demand from the UAE and wider Middle East; renewable energy projects aimed at reducing industrial power costs and boosting competitiveness; and cooperation in the digital economy, particularly in FinTech investments.
The UAE- Georgia CEPA creates new opportunities for joint ventures in technology, food processing, metals, chemicals, and pharmaceuticals. Georgia’s ongoing infrastructure projects, including the Anaklia Deep Sea Port, the Black Sea Submarine Cable Project, and the new Tbilisi International Airport, will play a pivotal role in positioning Georgia as a leading regional hub for trade and energy.
The UAE- Jordan CEPA is expected to create significant opportunities across sectors including renewable energy, pharmaceuticals, logistics, and tourism. The agreement aligns with Jordan’s Energy Strategy for 2020-2030 and supports the development of renewable energy, with 29 percent of Jordan’s electricity already coming from solar and wind power. Jordan’s highly-skilled workforce and strong industrial base, particularly in the production of phosphates, textiles, and pharmaceuticals, complements the UAE’s expertise in energy, infrastructure, and finance.
Contribution to UAE’s Economic Vision
The CEPAs contribute significantly to the UAE’s broader economic objectives. The UAE- Georgia CEPA is expected to add USD 3.9 billion to the UAE’s GDP by 2031. These agreements support the UAE’s goal of positioning itself as a global economic hub and expanding into new markets while boosting competitiveness.
Mohamed Hadi Al Hussaini, Minister of State for Financial Affairs, noted that the UAE- Jordan CEPA aims to stimulate bilateral trade and enhance the competitiveness of the business ecosystems in both countries, which are key pillars of their economic visions. Abdulla bin Touq Al Marri, Minister of Economy, commented that the partnership is central to the UAE’s vision of positioning the country as a global economic hub.
Investment Opportunities
The agreements open new investment opportunities for UAE businesses. Mohamed Hassan Alsuwaidi, Minister of Investment, highlighted that as the UAE embarks on an ambitious growth agenda focused on strategic investments in high-potential sectors globally, Jordan stands out as a promising partner in areas such as energy, manufacturing, tourism, healthcare, and real estate. Eagle Hills’ USD 6 billion investment in two major real estate projects in Georgia has been cited as a sign of confidence from Emirati investors in Georgia’s economy.
Strengthening Supply Chains
The CEPAs are expected to strengthen regional and global supply chains. The UAE- Cambodia CEPA will help strengthen East-West supply chains. Dr. Amna bint Abdullah Al Dahak Al Shamsi, Minister of Climate Change and the Environment, explained that the UAE- Jordan CEPA allows for the creation of vital value chains that provide more consistent benefits for producers and ensure their products reach new markets across Asia through the UAE’s global logistics hubs.
Abdulla Mohammed Al Basti, Secretary-General of the Executive Council of Dubai, highlighted that the UAE- Jordan agreement allows Jordanian businesses to tap into global markets through the UAE’s advanced infrastructure, while expanding investment opportunities and supporting the development of vital regional supply chains.
Financial Sector Opportunities
Khaled Mohamed Balama, Governor of the Central Bank of the UAE, noted that the UAE- Jordan CEPA offers new opportunities for financial cooperation, further facilitating the bilateral flow of goods, services and investments, and solidifying the UAE’s position as a global hub for business and innovation. The agreements create opportunities for enhanced financial services collaboration across all three partner countries.
The UAE’s Comprehensive Economic Partnership Agreements with Cambodia, Georgia, and Jordan represent strategic steps in the nation’s economic diversification and global trade expansion agenda. These three agreements collectively open access to diverse markets spanning Southeast Asia, the Caucasus region, and the Arab world, providing UAE businesses with pathways to reach billions of consumers across multiple continents.
The agreements are comprehensive in scope, addressing not only tariff reduction and market access but also critical areas such as digital trade, intellectual property protection, investment facilitation, and support for small and medium-sized enterprises. By eliminating or reducing tariffs on over 92 to 98 percent of product lines, streamlining customs procedures, and opening service sectors, these CEPAs create tangible benefits for businesses and consumers alike.
For the UAE, these partnerships advance key economic objectives including market diversification, export growth, investment attraction, and positioning as a global trading hub. The agreements leverage the complementary strengths of each partner country, from Cambodia’s growing manufacturing base and access to ASEAN markets, to Georgia’s strategic location between Europe and Asia, to Jordan’s skilled workforce and industrial capabilities in the Arab region.
The rapid implementation of these agreements demonstrates the strong political will and shared economic vision between the UAE and its partners. As these CEPAs continue to be operationalized, they are expected to deliver substantial economic benefits, strengthen regional and global supply chains, and contribute to the UAE’s ambitious target of achieving over USD 1.1 trillion in total non-oil trade value by 2031.
These three CEPAs exemplify how bilateral trade agreements can serve as effective instruments for economic integration, market expansion, and sustainable development in an increasingly interconnected global economy. They establish a foundation for long-term economic cooperation that will benefit businesses, entrepreneurs, and consumers across all partner countries for years to come.
