The Business Council of Australia announced that with the signing of the “Australia-United Arab Emirates Comprehensive Economic Partnership Agreement” (CEPA), trade cooperation between the two countries will enter a new and closer phase. This agreement opens unprecedented economic growth and market expansion opportunities for Australian exporters.
Bran Black, leader of the Australian Business Council, stated, “The agreement marks a new development phase for Australia-UAE trade, underscoring its exceptional value and far-reaching significance in promoting bilateral trade and deepening cooperation.”
Notably, the CEPA means that 99% of tariffs on goods exported from Australia to the UAE will be eliminated. This historic move gives Australian businesses a solid competitive edge in the dynamic UAE market, paving the way for deeper engagement and expansion.
Black highly praised the new investment committee established under CEPA, viewing it as a major catalyst for investment cooperation and exploration of new sectors. Trade is crucial to Australia’s economy, with one in four jobs relying on exports.
Black elaborated, “As a key component of the CEPA, the investment committee will actively explore the vast potential for future trade expansion, particularly in areas such as clean energy, infrastructure upgrades, advanced technology, and artificial intelligence. Additionally, the digital trade regulatory framework will support the ongoing growth of e-commerce, ensuring seamless integration with the digital economy’s new standards.”
Currently, the Business Council is leading high-level dialogues aimed at strengthening bilateral trade, such as the Australia-India CEO Forum, the Australia-China CEO Roundtable, and the Australia-New Zealand Leadership Strategic Dialogue, continually driving deeper and more sophisticated trade cooperation.
The agreement will have a profound impact on both countries. From a business perspective, removing 99% of tariffs gives Australian companies a competitive advantage in the UAE market, boosting bilateral trade growth and deepening economic ties. The establishment of a digital trade regulatory framework will support e-commerce growth and facilitate economic digitization and intelligence. Meanwhile, investment and
cooperation opportunities will become more diverse, especially in clean energy, infrastructure, high-tech, and AI, providing investors with a clear development direction and encouraging investment in these innovative industries to achieve sustainable growth.