First, remember that CDPATH is considered first, so you won’t be able to easily switch to a local directory if another directory contains a directory with the same name. You will probably add an empty path in front by writing CDPATH=:/Application/...
You do not need to use export , since this applies only to your shell, and not to the commands executed by your shell. The line, as you wrote it, should be good.
Remember that depending on how you start it, bash will read ~/.bashrc or ~/.bash_profile . Add an echo line for debugging which file is being evaluated in your context.
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