On Thursday 10 April, the President of the European Commission, Ursula von der Leyen, and the President of the United Arab Emirates, Mohamed bin Zayed Al Nahyan, agreed to launch negotiations on a free trade agreement. In recent weeks, the Commission had spoken of Abu Dhabi’s interest in a trade agreement with the EU.
At present, relations between the two parties are governed by the EU/Gulf Cooperation Council (GCC) Cooperation Agreement. Negotiations for a trade agreement between these two blocs were opened in 1990, then suspended in 2008.
The EU mainly imports hydrocarbons from the United Arab Emirates, but also aluminium and other rarer materials, such as certain stones. In the opposite direction, the EU exports high added-value industrial products, such as nuclear reactors, machinery, boilers, etc.
As well as liberalising trade in goods and services, the agreement should provide a framework for investment and deepen cooperation in renewable energies, green hydrogen and critical raw materials.
At this stage, the Commission does not mention sustainable development issues in the agreement, but points out that it has “a solid track record of high-standard trade agreements”.
In a press release on 10 April, the President of the Commission said that the two partners could make rapid progress in these negotiations. As proof of this commitment, the European Commissioner for Trade, Maroš Šefčovič, is due to visit the United Arab Emirates soon. (Original version in French by Léa Marchal)