In their speeches, they emphasized that the economic partnership agreement will be a serious basis and incentive for trade, economic and investment cooperation between the countries.

Prime ministers of the two countries attended the document signing ceremony remotely.

“It is a great honour for me to sign the Georgia- United Arab Emirates Comprehensive Economic Partnership Agreement (CEPA) today, which I believe, will be a solid milestone for the further intensification of our trade-economic relations. It is a very comprehensive and high quality agreement, which serves to liberalize trade in goods and services and combines almost every trade related aspect providing free and fair trade for all parties,” – Vice Prime Minister of Georgia, Minister of Economy and Sustainable Development stated at the signing ceremony of the agreement between the two countries.

It is important that after the entry into force of the Agreement, 97,5% of Georgian products will be imported from Georgia to the Emirates free of tariffs and a market of 10 million consumers with high purchasing power will be opened for Georgia. It should be noted that the Agreement covers trade in goods and services as well as other areas related to trade.

The State Minister of the United Arab Emirates emphasized that the trade and economic relations between Georgia and the Emirates have a sufficiently solid foundation, which was reflected in the growing trade turnover of 2022-2023. In addition, he expressed hope that the private sector of both countries will fully benefit from the opportunities provided with the Comprehensive Economic Partnership Agreement.

Upon implementation of the Agreement, the import tariff will be immediately removed on such important products for Georgia as beef and lamb, honey, nuts, mineral water, fruit and vegetable preserves, non-alcoholic beverages, nitrogen fertilizers, textile products, etc.

According to the Vice Prime Minister of Georgia, the Agreement is a favourable document for both countries, and Georgia is an interesting direction for Arab business. “Our country has a free trade agreement with two very important economic blocs, the EU countries and China. This provides special opportunities for investment companies operating in Georgia to benefit from the results of these two large markets. I am sure that today's agreement is the beginning of a new stage in the relations between the two countries,” – Vice Prime Minister said.

After the five-year transition period, even more products of Georgian origin will benefit from the tariff preference. The Agreement will contribute to the deepening of the trade between the two countries, the growth of trade turnover and better usage of the existing trade potential.

Before signing of the Agreement, Levan Davitashvili and Thani bin Ahmed Al Zeyoudi had a meeting, where the parties discussed the trade and economic relations of the two countries. The fact that the negotiations on the Agreement were accomplished in a record time – only in three rounds – receives a positive evaluation. It was highlighted that the signing of the document is a step towards further strengthening of already well-established bilateral relations between Georgia and the United Arab Emirates. The meeting also focused on growing cooperation in tourism, energy, transport, connectivity, innovation, information technology and mining sectors.