Baku: The Comprehensive Economic Partnership Agreement (CEPA) signed between Azerbaijan and the United Arab Emirates (UAE) on July 9, 2025, has officially come into effect, as announced by the Ministry of Economy, APA-Economics reports.

According to Azeri-Press News Agency, the CEPA aims to enhance economic cooperation and facilitate trade between Azerbaijan and the UAE. The agreement was signed during a meeting between Azerbaijan's President Ilham Aliyev and UAE President Sheikh Mohammed bin Zayed Al Nahyan during Aliyev's working visit to the UAE. Azerbaijan's Minister of Economy Mikayil Jabbarov and the UAE's Minister of State for Foreign Trade Thani bin Ahmed Al Zeyoudi were the signatories of the document.

The agreement's primary objective is to fortify economic partnerships and liberalize trade. Its enforcement marks a significant milestone in Azerbaijan-UAE relations, focusing on economic diversification and strategic cooperation. The CEPA provides a framework for sustainable economic development rooted in knowledge and innovation.

Comprising 18 chapters and annexes, the agreement aims to expand market access for both goods and services. It includes eliminating tariffs on over 90% of goods traded between the two nations, simplifying customs procedures, easing sanitary and phytosanitary requirements, and applying clear rules of origin.

The CEPA also supports small and medium-sized enterprises and encourages joint activities across various economic sectors, promoting diversification and joint economic growth. It seeks to deepen trade and investment ties, enhance supply chain resilience, and foster digital economy cooperation, creating a favorable environment for businesses.