Australia, UAE Sign Trade Deal to Boost Agriculture Exports and Investment
Emirates partnership eliminates tariffs on 99% of Australian products, driving agricultural exports and mineral investments
Australia Secures Landmark Trade Deal with UAE to Boost Exports and Investment
SYDNEY, Sept 17: Australia said it had reached a trade deal with the United Arab Emirates that would eliminate tariffs on about 99 percent of Australian products and save it an initial $135 million ($91 million). year
The UAE is Australia’s largest trading and investment partner in the Middle East with bilateral trade worth A$9.9 billion last year, while two-way investment was A$20.6 billion.
“Under this trade agreement, Australia’s exports are expected to increase by $678 million a year, but this agreement means more to Australia than just numbers,” Trade Minister Don Farrell said.
The agreement includes a framework to increase Abu Dhabi’s investment in critical minerals, while the mining industry will benefit from tariff cuts on alumina exports, Farrell said in a statement.
In a post on X, UAE Foreign Trade Minister Thani al-Zayoudi said the two countries had agreed on the terms of a comprehensive economic partnership agreement that would “secure a new era of cooperation and opportunity”.
Australia’s main exports to the UAE are meat, dairy products, oilseeds, seafood, steel, nuts, honey, coal, chickpeas and pulses.
The agreement is expected to come into effect by the end of this year.
The Australian Meat Industry Council welcomed the trade deal and said it would give farmers greater access to vital markets for Australian beef, lamb and goat meat.
