The Democratic Republic of the Congo (DRC) and the United Arab Emirates (UAE) are on the verge of concluding a bilateral free trade agreement, marking a crucial step in strengthening economic relations between the two nations. This development was confirmed by the former Minister of Foreign Trade, Jean Lucien Bussa, during an annual investment meeting (AIM Congress 2024) on the theme: "Adapting to an evolving investment environment: harnessing new potentials for global economic development" in Abu Dhabi from May 7 to 9, 2024[1].

Progress of Negotiations

The negotiations for this ambitious agreement, aimed at boosting investments and trade, are already approved at 95%. The discussions, started a few months ago, have led to significant progress. Jean Lucien Bussa emphasized the importance of this agreement to boost investments in the DRC, citing a bilateral trade volume that has increased from 15 million to over 4 billion dollars with these words: "The United Arab Emirates and the DRC have very advanced economic and commercial relations. Our trade volume has increased from 1.5 billion to over 4 billion. This is not insignificant. We believe that the bilateral trade agreement, therefore the free trade agreement that we are proposing to sign, will help boost trade, boost investments. We started the discussions a few months ago, and 95% of the agreement, in terms of the project, has been approved. There is 5% left in terms of languages, it is written in English for them and in French for us. We have agreed that our teams will work on it, and within a maximum of two months, the agreement will be signed," he said.

Customs Exemptions and Linguistic Harmonization

The agreement provides for an exemption from customs duties for commercial products between the two countries, which simplifies and encourages bilateral trade. However, a crucial final step remains: harmonizing the English and French versions of the agreement texts. This task, which is essential to ensure a uniform understanding and application of the agreement terms, is expected to be completed in the next two months. Once this harmonization is completed, the agreement can be fully implemented, thereby strengthening economic exchanges between the two nations[3].

Context and Strategic Importance

The former Congolese Minister in charge of Foreign Trade, Jean-Lucien Bussa, detailed the evolution of the negotiations and reforms undertaken by the DRC to improve the business climate. In Abu Dhabi, he also highlighted the DRC's strengths as a preferred destination for foreign direct investments[4].

Next Steps

To finalize this agreement, a third meeting is planned. It will focus on the modalities of tariff dismantling, the elimination or reduction of import duties and taxes, as well as the rules of origin for processed products. This meeting will be crucial to harmonize views between parties on drafting certain rules for products that have undergone a transformation or processing as referred to in Annex 3A of the chapter dedicated to these rules of origin," reads the minutes of the last meeting of the Council of Ministers, which also indicates that negotiations are already 80% complete to reach this agreement[5].

Strengthened Relations under the Presidency of Félix Tshisekedi

Since Félix Tshisekedi came to power in 2019, the relations between the Democratic Republic of Congo (DRC) and the United Arab Emirates have significantly warmed up. This diplomatic rapprochement was symbolized by the opening of the United Arab Emirates embassy in Kinshasa in 2023, marking a new era of cooperation between the two nations. This free trade agreement between the DRC and the UAE represents a major milestone in bilateral economic cooperation. It not only promises to strengthen trade exchanges but also to attract more investments in the DRC, thus promoting the economic development of both nations. The imminent signing of this agreement will demonstrate the commitment of both countries to forge strong and mutually beneficial partnerships.