Al Zeyoudi highlights importance of developing new trade routes

ASTANA: On behalf of UAE President His Highness Sheikh Mohamed Bin Zayed Al Nahyan, Dr Thani Bin Ahmed Al Zeyoudi, Minister of Foreign Trade, attended the Eurasia Economic Forum 2026 in Astana, Republic of Kazakhstan.

The forum, held alongside the Supreme Eurasian Economic Council, gathered heads of state and key officials from the Eurasian Economic Union (EAEU) to discuss vital economic cooperation and trade initiatives.

During the forum, Al Zeyoudi participated as a speaker in the session titled "Eurasian Trade and Logistics in a New Reality," where he highlighted the importance of developing trade routes, implementing paperless logistics, and fostering multilateral investment projects in the transport and logistics sector. The session emphasised how enhancing transport infrastructure can strengthen trade relations among EAEU Member States and with global partners.

Al Zeyoudi also held bilateral meetings with Andrey Slepnev, Minister in charge of Trade at the Eurasian Economic Commission, and Arman Shakkaliyev, Minister of Trade and Integration of Kazakhstan.

The discussions focused on reinforcing economic ties and exploring new collaborative opportunities. In addition, Al Zeyoudi held meetings with Daniyar Joldoshevich, the First Deputy Chairman of the Cabinet of Ministers of Kyrgyzstan; Renat Bekturov, Governor of the Astana International Financial Centre; and Mr Allen Chaizhunussov, Chairman of the Export Credit Agency of Kazakhstan, JSC.

Al Zeyoudi was accompanied by Dr Mohammed Saeed Al Ariqi, Ambassador of the United Arab Emirates to the Republic of Kazakhstan and Non-Resident Ambassador to the Kyrgyz Republic.

Noting the close economic ties between the EAEU and the UAE, Al Zeyoudi said: "Our participation in the Eurasia Economic Forum has reinforced the UAE's commitment to enhancing economic cooperation with the EAEU. By fostering strong partnerships, we aim to unlock new opportunities for trade and investment, further establishing our position as a global hub for innovation and sustainable growth.”

In 2025, the UAE's non-oil foreign trade with the EAEU exceeded $33.3 billion, an increase of 15% compared to the previous year. Trade with Kazakhstan reached approximately $6.1 billion, reflecting an 8.6% increase. The UAE remains Kazakhstan's leading trading partner among Arab countries.

This engagement builds on the Economic Partnership Agreement (EPA) signed between the UAE and the EAEU last year, which aims to eliminate trade barriers and enhance collaboration across key sectors. The EPA aligns with the UAE's objectives of expanding its global trade partnerships to drive economic diversification and sustainable growth.

Last month, senior officials from Kazakhstan and the United Arab Emirates have reaffirmed their commitment to deepening investment cooperation, with a strong emphasis on renewable energy and emerging green technologies, reports the Kazakhstan Government website.

During an official visit to Abu Dhabi, Kazakhstan’s Foreign Minister Yermek Kosherbayev held talks with Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology, focusing on current projects and long-term opportunities for economic collaboration.

The discussions underscored the steady growth of bilateral ties. In 2025, the UAE ranked among the top five foreign investors in Kazakhstan, with total investment reaching approximately US$1.64 billion. Trade between the two countries has also shown consistent expansion, reflecting strengthening economic links.

A central topic of the meeting was a major wind power project in Kazakhstan’s Zhambyl Region. With a planned capacity of 1 GW, the initiative is set to become one of the largest renewable energy projects in Central Asia and a flagship example of strategic cooperation between the two nations.

Kazakhstan also highlighted interest in expanding cooperation into new areas such as green hydrogen, industrial localisation, and the development of value-added production chains. Officials noted that such initiatives could enhance long-term economic resilience and support sustainable growth.

The meeting concluded with a shared commitment to strengthening the strategic partnership and accelerating joint investment projects, signalling continued momentum in Kazakhstan-UAE economic relations.

Separately, the volume of e-commerce across the Eurasian Economic Union (EAEU) reached approximately $110 billion in 2024, while the share of settlements conducted in national currencies in mutual trade increased to around 93%, reports a Qazinform News Agency.

The figures were presented during the plenary session “Eurasian Economic Integration: Challenges and Prospects” held as part of the 5th Eurasian Economic Forum.

According to materials presented at the session, nearly 90 million consumers across EAEU member states now make purchases through online marketplaces and digital platforms.

Particular attention was paid to issues of digital and financial integration. The development of e-commerce, the modernization of digital infrastructure, and the expansion of national currency use in mutual settlements were identified among the key priorities.

Measures aimed at strengthening financial cooperation among EAEU member states were also reviewed. In addition, further steps to improve interaction mechanisms within the Union’s financial markets were considered.

Earlier, Qazinform News Agency reported that the combined gross domestic product (GDP) of the member states of the Eurasian Economic Union (EAEU) had grown by 16.6% since 2020, reaching $3.02 trillion in 2025.

Agencies