From SeafoodNews, Australia and the United Arab Emirates have reached a trade agreement that will eliminate about 99% of tariffs on Australian products.

It will save Australia A$135 million in the first year.

The UAE is Australia's largest trade and investment partner in the Middle East, with bilateral trade amounting to A$9.9 billion last year and two-way investment totaling A$20.6 billion.

The two countries have agreed to a comprehensive economic partnership agreement “that will ensure a new era of cooperation and opportunity”.

Australia's main exports to the UAE include other agricultural and industrial products such as seafood.