Dubai: The UAE and Australia held their second Joint Economic Committee (JEC) meeting in Dubai, focusing on enhancing mutual trade and investment opportunities under the Comprehensive Economic Partnership Agreement (CEPA). The CEPA, signed in November 2024, came into effect in October last year. The meeting was co-chaired by Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of Foreign Trade, and Don Farrell, Australia's Minister of Trade and Tourism.
According to Emirates News Agency, Al Zeyoudi emphasized the importance of empowering the private sectors of both nations to fully leverage the CEPA. He highlighted the potential for mutually beneficial cooperation and the meeting's role in exploring trade and investment opportunities, addressing trade barriers, and facilitating business interactions.
Al Zeyoudi also invited Australian businesses to capitalize on the UAE's pro-business environment, citing opportunities in high-growth sectors such as AI, renewable energy, agriculture, space, and advanced technology. He pointed out the UAE's favorable regulatory environment, advanced infrastructure, strong banking and financial services, and strategic location.
Farrell expressed that co-chairing the JEC was a crucial step in strengthening the economic relationship between Australia and the UAE. He noted that the CEPA is opening significant opportunities for Australian farmers, producers, and exporters, with the UAE serving as a gateway for Australian exports in the Middle East and beyond.
Fahad Al Gergawi, Under-Secretary of the Ministry of Foreign Trade, underscored the committee's aim to enhance cooperation in trade and investment, particularly supporting small and medium-sized enterprises. He mentioned the committee's focus on joint investments in technology, agriculture, food security, transport, infrastructure, logistics, and tourism.
Non-oil trade between the UAE and Australia has grown significantly, reaching US$4.21 billion in 2024, with a growth of 19% compared to 2021. This trend continued in the first nine months of 2025, with trade reaching US$4.3 billion, marking a 32.4% increase year-on-year.
The meeting included officials from various UAE government departments and major corporations. Both sides agreed to review and update their partnership, identify trade and investment challenges, and develop solutions. These findings will be evaluated at the next JEC meeting.