UAE, Tunisia launch CEPA negotiations
The UAE and Tunisia have announced the start of negotiations for a Comprehensive Economic Partnership Agreement (CEPA) to strengthen bilateral trade and investment.
The CEPA aims to reduce tariffs and trade barriers, improve market access, and create new investment pathways across key sectors.
In a virtual meeting, UAE Minister of State for Foreign Trade, Dr. Thani bin Ahmed Al Zeyoudi, and Tunisia's Minister of Trade and Export Development, Samir Obeid, emphasised the benefits of CEPA, which will serve as a strategic framework to boost trade, investment and collaboration between the countries.
Dr. Al Zeyoudi highlighted Tunisia as a valuable trade partner, noting that the UAE is Tunisia's top trade partner in the GCC region, with non-oil trade reaching $350 million in 2024, a 7.7 per cent growth from the previous year.
Minister Obeid emphasized that the negotiations would pave the way for an innovative economic cooperation framework, benefiting both nations and opening up new opportunities for joint ventures, particularly in agriculture, manufacturing and renewable energy sectors.
The UAE and Tunisia will now proceed to negotiate the specific chapters and provisions covered by the CEPA to deliver a balanced and fair deal.
The initiation of negotiations with Tunisia aligns with the UAE's broader strategy to double the size of its economy and further expand its role in international trade.
With 26 CEPAs concluded and numerous agreements already in force, the programme has played a crucial role in enhancing access to high-growth markets, contributing significantly to the UAE's total trade that, in 2024, reached an all-time high of $816 billion, marking a 14.6 per cent increase over 2023.
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