The UAE and Angola have taken a major step forward in strengthening economic relations.
In a significant development, UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan and his Angolan counterpart João Lourenço have officially witnessed the exchange of a Comprehensive Economic Partnership Agreement (CEPA) between their nations. This agreement emerges from Sheikh Mohamed’s state visit to Angola and marks a pivotal moment aimed at intensifying trade, investment, and cooperation across various sectors.
The CEPA is envisioned to enhance market access and mitigate trade barriers, thus facilitating a more seamless economic interaction. The UAE’s commitment to forging strategic partnerships across Africa is underscored in Sheikh Mohamed’s statement, emphasizing the importance of sustainable growth and opportunity creation for future generations.
President Lourenço echoed these sentiments, welcoming the agreement as a vital mechanism for diversifying and deepening economic ties between the UAE and Angola. His enthusiasm highlights the mutual understanding that both countries stand to benefit from this collaborative endeavor.
The signing ceremony saw UAE Minister of Foreign Trade Dr. Thani Al Zeyoudi and Angolan Minister of Industry and Commerce Rui Oliveira representing their respective countries. The CEPA is notably part of a broader context where non-oil trade between the UAE and Angola surpassed $2 billion in 2024, revealing an impressive nearly 30 percent increase in trade during the first half of this year alone.
In addition to the CEPA, both leaders announced several agreements and Memorandums of Understanding (MoUs) encompassing a multitude of fields. These include artificial intelligence, political consultations, diplomatic cooperation, tourism, investment, renewable energy, culture, education, labor, sports, health, climate action, and technology. Each of these areas is tailored to align with the development aspirations that both nations share.
