UAE, Ukraine Finalize Pact Aimed at Boosting Bilateral Trade
- 2023 non-oil trade of $386 million is down from pre-war level
- Agreement may help to boost Ukraine’s economy by 0.1%
Harvested wheat grain.
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The United Arab Emirates and Ukraine concluded an economic agreement aimed at increasing their bilateral trade, which has fallen sharply from its pre-war level.
Non-oil trade between the two countries reached $386 million last year, down from more than $800 million before the Kremlin’s February 2022 invasion of Ukraine, Thani Al-Zeyoudi, the UAE’s minister of state for foreign trade, said in an interview. The fall in trade is not specific to the Gulf nation, and similar trends with Ukraine since the start of the war can be seen across the globe, he said.