The Albanese Government is delivering on our ambitious trade diversification agenda through the entry into force of the landmark free trade agreement with the United Arab Emirates (UAE) on 1 October.
This agreement builds on the Government's commitment to create new market access opportunities. It means more trade opportunities for Australian businesses and more high-paying local jobs for Australian workers.
When fully implemented, more than 99% of Australia’s exports will enter the UAE duty free - saving Australian farmers, miners, manufacturers and other exporters $185 million in its first year alone.
The UAE is already Australia’s largest trade and investment partner in the Middle East, with over $12.3 billion in two-way goods and services trade in 2024. Under this agreement, trade will accelerate, with independent modelling estimating an additional $678 million in Australian goods exports to enter the UAE annually.
The agreement will help attract some of the largest sovereign wealth funds in the world to Australia and will facilitate investment opportunities across the economy, including in renewable energy, digital infrastructure, agriculture and minerals.
Details on the full package and key benefits to Australia are published on the DFAT website.
The commencement of the free trade agreement coincides with 50 years of diplomatic relations between Australia and the UAE, and the elevation of the relationship to a Strategic Partnership.
The Strategic Partnership will provide the framework to take forward our shared interests with the UAE on economic, security and people to people cooperation.
Quotes attributable to Prime Minister Anthony Albanese:
“This trade agreement with the UAE delivers on my Government’s commitment to open new export opportunities and create more jobs in Australia.
“Our first trade deal in the Middle East provides Australian businesses with a competitive advantage in this fast-growing region. More trade means more opportunities for economic growth.
“As an important global logistics centre and hub, the UAE will serve as a gateway for Australia’s exports to the broader region and beyond.”
Quotes attributable to Minister for Trade and Tourism Don Farrell:
“Australia’s free trade agreement with the UAE delivers for Australian businesses, consumers, and our economy.
“The removal of tariffs on key Australian exports to the UAE, from red meat and dairy to alumina, steel, and cosmetics, opens more opportunities for Australian businesses and creates more high-paying local jobs for Australian workers.”