HE Al Zeyoudi welcomes EU Trade Commissioner Maroš Šefčovič to the UAE for CEPA Talks - Middle East Business News and Information
Dubai, UAE – May 2025: His Excellency Dr. Thani Al Zeyoudi, UAE Minister of State for Foreign Trade, welcomed His Excellency Maroš Šefčovič, EU Commissioner for Trade and Economic Security, to the United Arab Emirates for ongoing talks regarding the Comprehensive Economic Partnership Agreement (CEPA) between the UAE and the EU. The visit also included an investment roundtable with representatives from leading private sector companies aimed at exploring opportunities for increased collaboration and investment flows between the EU and UAE.
The UAE-EU CEPA is poised to be a significant milestone in strengthening economic ties and unlocking new avenues for trade and cooperation. The agreement will pave the way for the removal of trade barriers, enhance market access for goods and services, and stimulate investment in key sectors. By consolidating access to the EU market, the second largest economic bloc in the world, the CEPA will reinforce the UAE's status as a global trade and logistics hub.
The EU is already one of the UAE's key trading partners, accounting for 8.3% of non-oil trade. In 2024, non-oil trade between the two reached US$67.6 billion, representing a growth of 3.6% over 2023.
HE Al Zeyoudi emphasized the importance of the CEPA with the EU, stating, 'Our negotiations toward a UAE-EU Comprehensive Economic Partnership Agreement is of great importance to both the UAE and the EU and represents an extraordinary opportunity for us both to enhance trade and investment ties that will foster greater collaboration and create mutual benefits and prosperity. By working together, we will strengthen our supply chains, drive innovation, and create jobs that will benefit our communities and economies for many years to come.'
HE Maroš Šefčovič commented: 'Europe continues to be a reliable trading partner, which respects the deals it makes. And it is natural to seek to grow our relations with long-standing and trusted partners like the United Arab Emirates. A bilateral FTA would unlock tremendous business opportunities for European and Emirati businesses alike. Our aim is therefore to reach an ambitious deal that is commercially meaningful on both sides – one that brings tangible, lasting benefits, along with predictability, so essential to any successful business. This would add strength to our regional cooperation with the Gulf Cooperation Council countries.'
During the investment roundtable, representatives from the UAE and the European private sectors, engaged in discussions to identify mutual investment opportunities that can drive innovation and sustainable economic development. FDI flows between the UAE and EU are strong and robust, with recent partnerships in data centers in Italy, solar plants in Spain, and neighbourhood redevelopment in Budapest. A UAE-EU CEPA has the potential to unlock further opportunities, including a US$50 billion AI data center deal with France and a US$40 billion commitment in Italy's energy and defense sectors.
The CEPA program is a key pillar of the UAE's foreign trade agenda, reflecting the nation's commitment to open, rules-based trade to drive economic growth and diversify its economy. By enhancing access to global markets and establishing stronger trade and investment flows with partners around the world, the CEPA program has contributed to a record non-oil trade of US$816 billion in 2024, marking a 14.6% increase over 2023.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Al-Ahram Weekly
6 hours ago
- Al-Ahram Weekly
DR Congo army accuses M23 of 'multiple attacks' despite ceasefire deal - Africa
The Congolese army accused the Rwanda-backed M23 militia on Tuesday of "multiple attacks" on its positions in the east, where several days of fighting have threatened a US-brokered ceasefire deal. The eastern Democratic Republic of Congo, a region bordering Rwanda with abundant natural resources but plagued by non-state armed groups, has suffered extreme violence for more than three decades. Since taking up arms again at the end of 2021 the M23 armed group has seized swathes of land in the restive region with Rwanda's backing, triggering a spiralling humanitarian crisis. A fresh surge of unrest broke out early this year when the M23 captured the key cities of Goma and Bukavu, setting up their own administrations. The Congolese government and the M23 signed a declaration of principles on July 19 in Qatar that included a "permanent ceasefire" aimed at halting the conflict. It followed a separate peace deal between the Congolese and Rwandan governments signed in Washington the previous month. But violence has continued on the ground, with fighting becoming more intense since Friday around the town of Mulamba in South Kivu province, where the front line had been relatively stable since March. The M23 attacked positions between held by pro-Kinshasa militia and army forces and pushed them back several kilometres, local and security sources said. The "almost daily" attacks constitute an "intentional and manifest violation" of the Washington peace deal and the declaration of principles agreed in Doha, Congolese army spokesman Sylvain Ekenge said in a statement. The army said it was ready to respond "to all provocations from this coalition, accustomed to violating agreements". M23 spokesman Lawrence Kanyuka said in a post on X on Monday that the DRC's government was continuing "offensive military manoeuvres aimed at full-scale war". Rwanda denials After a lull in the morning, fighting resumed in Mulamba on Tuesday afternoon, according to local sources. Both sides had rushed reinforcements to the territory on Sunday, the sources added. Any breakthrough by the M23 in the mountainous region would give the armed group control of many mining sites, most of them gold and run by Chinese businesses. Neither side has provided a toll from the clashes. Dozens of ceasefires and truces have been brokered and broken in recent years without providing a lasting end to the conflict. At the beginning of August, UN human rights chief Volker Turk accused the M23 of having killed at least 319 civilians in July, insisting the fighters were "backed by members" of the Rwandan army. Rwanda on Monday branded the UN's accusations its army had helped kill civilians "unacceptable". Kigali has consistently denied proving the M23 military support. A report from UN experts in July however found that Rwanda's army played a "critical" role in the M23's conquest of Goma and Bukavu, capital of the North and South Kivu provinces respectively. More than two million people have fled the violence in both North and South Kivu since the beginning of 2025, according to a late July report from the UN's Office for the Coordination of Humanitarian Affairs. Rwanda has long maintained that it faces an existential threat from the FDLR, a militia founded in the Congolese east by ethnic Hutu leaders involved in the 1994 Rwandan genocide of Tutsis. Follow us on: Facebook Instagram Whatsapp Short link:
Daily News Egypt
8 hours ago
- Daily News Egypt
Egypt, Hungary discuss ways to boost industrial cooperation
Chairperson of the Suez Canal Economic Zone (SCZONE), Walid Gamal El-Din, on Tuesday received Rita Herencsár, Ambassador of Hungary to Cairo, at the Authority's headquarters in Ain Sokhna. The official visit aimed to explore avenues for cooperation and strengthen economic ties between the two sides. It forms part of SCZONE's ongoing efforts to build partnerships with development allies worldwide, enhance bilateral cooperation with friendly nations in support of sustainable development goals, and consolidate its position as a global industrial and logistics hub. Several senior Authority officials attended the meeting. Gamal El-Din outlined SCZONE's advantages, including advanced infrastructure, six seaports on the Red Sea and the Mediterranean connected to global supply chains, and four industrial zones ready to host a wide range of industries. He also highlighted direct and indirect financial incentives, sector-specific benefits, competitive energy costs, and the availability of skilled, well-trained labour—factors that make SCZONE an attractive destination for European companies seeking to expand into regional and global markets. He emphasised the importance of partnership with Hungary, particularly in sectors that add value to the Egyptian economy. He noted SCZONE's interest in localising the automotive industry, expanding data centre projects, and exploring cooperation in railway and electricity-related industries, while leveraging the technological expertise of Central and Eastern European countries. He also reviewed the diverse investments already operating in the zone from various nations. For her part, Ambassador Herencsár expressed her country's interest in exploring cooperation in manufacturing, exports, infrastructure investment, solar energy, and water management. She also proposed organising meetings between SCZONE's leadership and Hungarian companies interested in investing in the zone and participating in public-private partnership projects, which she said could open new markets for both sides. Following the meeting, the Hungarian delegation toured several SCZONE projects, including Ecopact for Industrial Development, Elsewedy Watanya, and the National Steel Fabrication Company (NSF). The visit showcased examples of existing international partnerships within the zone and the potential for further industrial integration. Gamal El-Din had previously led a promotional tour to Hungary in February 2023, holding intensive meetings in Budapest with officials from the Hungarian Export Promotion Agency (HEPA) and representatives of Hungarian companies across various industrial sectors. The visit took place on the sidelines of the 4th Egyptian–Hungarian Joint Committee meetings.
Daily News Egypt
8 hours ago
- Daily News Egypt
Gaza at the Crossroads of Reoccupation: The Challenges of a Humanitarian Catastrophe
At the heart of the Middle East, the Gaza Strip today stands at a pivotal crossroads amidst escalating discussions about the potential reoccupation of parts of the territory nearly two decades after Israel's unilateral withdrawal in 2005. This step, which Israel justifies on security grounds, comes amid a fragile political and security context and a worsening humanitarian crisis that threatens to spiral into a large-scale catastrophe, jeopardizing regional stability. On the ground, indicators show that the crisis in Gaza is neither transient nor isolated; rather, it constitutes a collective calamity demanding urgent international attention. Over two million residents are suffering from acute shortages of food and potable water, while healthcare institutions, already debilitated, are overwhelmed by mounting casualties and a severe lack of medicines and medical supplies. Critical infrastructure—including roads, residential buildings, power stations, and water networks—has been severely damaged by ongoing bombardments and military operations, turning daily life into a constant struggle for survival. The humanitarian crisis transcends statistics; it reflects a genuine tragedy of families displaced from their homes, children deprived of their basic rights to education and recreation, and youth facing an uncertain future overshadowed by despair. Additionally, widespread internal displacement has overcrowded shelters and refugee camps, exacerbating health and social conditions and increasing the risk of disease outbreaks. Politically, the complexity is heightened by the repercussions of Israel's actions on the regional environment. Egypt, a key mediator, has expressed deep concern about any large-scale military escalation that might threaten its national security and destabilize its southern borders. The 1979 Egypt-Israel Peace Treaty, a cornerstone of regional stability, is now under critical strain, compelling Cairo to navigate a delicate balance between maintaining stability and protecting its national interests. In Lebanon, political factions—particularly Hezbollah—are closely monitoring developments in Gaza, viewing any escalation as an opportunity to reposition themselves strategically. Such dynamics risk opening a new front in northern Israel, further complicating the security landscape and potentially igniting a broader regional conflict. The international community, led by the European Union, faces a multifaceted challenge in balancing support for Israel's security rights with the protection of Palestinian civilians caught in the conflict's crossfire. European positions have been cautious and nuanced, urging an immediate cessation of hostilities and the establishment of safe humanitarian corridors, while emphasizing the necessity of a political solution based on a two-state framework. France has voiced fears of a humanitarian catastrophe; Germany has called for restraint and respect for international humanitarian law, while Spain and Ireland have insisted on independent international investigations into alleged violations, reaffirming the importance of accountability. These positions reflect Europe's recognition that military measures alone cannot secure lasting stability; continued conflict only deepens civilian suffering and undermines prospects for peace. As such, Europe's role must center on upholding human protection and fostering the resumption of political dialogue that addresses the conflict's root causes. However, the reality is clear: humanitarian aid, though essential and impactful, is insufficient without a comprehensive vision for Gaza's reconstruction and socioeconomic recovery. The population endures extreme poverty and high unemployment, fueling social tensions and internal strife that impede prospects for reconciliation and a ceasefire. Thus, long-term strategies must prioritize rehabilitating critical infrastructure, enhancing healthcare and education services, strengthening local institutions, and supporting sustainable development efforts, alongside robust human rights protections and rule-of-law initiatives. This will require coordinated international cooperation to restore hope and dignity to Gaza's residents. Simultaneously, Gaza's crisis serves as a litmus test for the international community's commitment to humanitarian principles and international law. In times when complex realities challenge principles, decisions must be grounded in humanity, rather than narrow political or security calculations. Civilian protection, respect for human rights, and adherence to international humanitarian law are not luxuries but binding obligations that define the legitimacy of global action. Achieving sustainable calm in Gaza requires more than military force; it calls for sincere, inclusive dialogue among all stakeholders, based on mutual respect and a readiness for meaningful concessions. Courageous leadership is necessary to prioritize civilian lives over political calculations, supporting peace initiatives that guarantee the Palestinian people's right to dignity and security alongside Israel's legitimate defense concerns. This critical juncture reminds us that true peace transcends the mere absence of conflict; it entails constructing resilient societies where individuals can access opportunities for growth and prosperity. Such an outcome depends on the international community's ability to transcend parochial interests and embrace a holistic vision grounded in justice, humanity, and mutual respect. In conclusion, Gaza is not merely a battleground but a profound humanitarian and ethical challenge that demands collective responsibility to uphold peace, protect life, and envision a better future for coming generations. The voice of reason and compassion must rise above the din of war, calling on all of us to be partners in shaping a legacy of hope and stability. Dr. Marwa El-Shinawy – Academic and Writer
