Australia and the UAE have concluded negotiations on the Australia-United Arab Emirates Comprehensive Economic Partnership Agreement. The agreement will be signed later this year.
The new trade agreement – Australia's first with the Middle East –will eliminate tariffs on 99% of Australian products exported to the UAE. Australian farmers and food producers can look forward to estimated tariff savings of A$50 million per year for food and agriculture exports.
The trade agreement provides a gateway for Australian exporters to diversify into the Middle East, a market of around 58 million consumers and a combined GDP of A$1.4 trillion.