UAE, Angola Deepen Economic Ties with Landmark CEPA, MoUs

Nume Ekeghe

The United Arab Emirates (UAE) and Angola have taken a decisive step to expand bilateral relations with the signing of a Comprehensive Economic Partnership Agreement (CEPA) and multiple memoranda of understanding (MoUs), in a move expected to spur trade and investment across strategic sectors.

According to the Emirates News Agency (WAM), the agreements were formalised during UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan’s state visit to Angola, where President João Manuel Lourenço received him. Both leaders witnessed the exchange of the CEPA alongside a raft of MoUs covering areas such as artificial intelligence, financial sector cooperation, and agriculture.

Sheikh Mohamed said the CEPA represents an important step in strengthening the UAE’s partnerships with African nations, underscoring Abu Dhabi’s commitment to building enduring economic linkages that foster sustainable growth. He stressed that the agreement would unlock new opportunities for businesses and contribute to shared prosperity for future generations.

“ The CEPA also reflects the UAE’s longstanding determination to build partnerships to foster shared prosperity while creating opportunities for coming generations and achieving their aspirations for development.
His Excellency João Lourenço welcomed the exchange of the CEPA and various memoranda of understanding, underscoring their importance in reinforcing and diversifying economic cooperation to benefit the peoples of both nations.

The CEPA was exchanged by His Excellency Dr Thani bin Ahmed Al Zeyoudi, UAE Minister of Foreign Trade, and His Excellency Rui Miguêns de Oliveira, Angolan Minister of Industry and Commerce.
The CEPA deepens economic ties between the UAE and Angola by eliminating or reducing customs duties, removing unnecessary barriers to trade, expanding market access for service exports, and generating new opportunities for investment and cooperation across various sectors.

With non-oil trade between the UAE and Angola reaching $2.17 billion in 2024 and continuing to grow in the first half of this year by 29.7 per cent to $1.4 billion, the UAE-Angola CEPA is expected to further stimulate trade and investment flows, benefiting both countries and their peoples.

His Highness Sheikh Mohamed bin Zayed and His Excellency João Lourenço also witnessed the exchange of several memoranda of understanding between the UAE and Angola, including an MoU in the field of artificial intelligence, an MoU between the Central Bank of the UAE and the National Bank of Angola, and an MoU between Al Dahra and the Angolan Ministry of Agriculture and Forestry.

His Highness the UAE President stated that the agreements and memoranda of understanding exchanged by the UAE and Angola across the public and private sectors reflect the two countries’ shared commitment to leveraging all opportunities to usher in a new era of cooperation.
The MoU in the field of artificial intelligence was exchanged by H.H. Lt. General Sheikh Saif bin Zayed Al Nahyan, Deputy Prime Minister and Minister of the Interior, and His Excellency José de Lima Massano, Angolan Minister of State for Economic Coordination.
The MoU between the Central Bank of the UAE and the National Bank of Angola was exchanged by His Excellency Khaled Mohamed Balama, Governor of the Central Bank of the UAE, and Manuel António Tiago Dias, Governor of the National Bank of Angola.

The MoU between Al Dahra and the Angolan Ministry of Agriculture and Forestry was exchanged by Ahmed Saeed Al Suwaidi, Group Corporate Affairs Officer at Al Dahra, and His Excellency Téte António, Angolan Minister of External Relations.
The two sides also announced several agreements and MoUs covering diverse areas, including political consultations, diplomatic cooperation, tourism, investment, renewable energy, culture, education, labour, sports, health, climate action, and technology, among other fields that serve the development aspirations of both countries. ”