Korea (Rep.) and UAE will implement their Comprehensive Economic Partnership Agreement (CEPA), under which tariffs on 91.2% of goods will be gradually eliminated over ten years, alongside expanded cooperation in energy, resources and advanced industries.
Korea (Rep.) and the UAE will implement their Comprehensive Economic Partnership Agreement (CEPA) on 1 May 2026, following the completion of domestic approval procedures and bilateral consultations to expedite its entry into force.
The CEPA, signed on 29 May 2024, was confirmed after the National Assembly of Korea (Rep.) ratified the trade deal and the Ministry of Trade notified the UAE of the completion of internal processes. The agreement was also agreed during a virtual meeting between Trade Minister Yeo Han-koo and UAE Minister of State for Foreign Trade Thani Ahmed Al-Zeyoudi.
Once effective, the CEPA will gradually eliminate tariffs over a ten-year period on 91.2% of goods, including crude oil, reducing Korea (Rep.)’s import costs. The agreement represents Korea (Rep.)’s first free trade agreement with an Arab country in the Middle East.
In addition to tariff liberalisation, the CEPA establishes a framework for cooperation in sectors including energy, resources, and advanced industries.
