Latest news with #CEPAs
Sharjah 24
2 days ago
- Business
- Sharjah 24
UAE-Serbia CEPA officially comes into force
A new era of bilateral economic cooperation Dr Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, expressed his enthusiasm regarding the CEPA's implementation, stating: 'The activation of the UAE-Serbia CEPA heralds a new chapter in our economic relations, creating new avenues for collaboration, investment, and trade that will benefit both our nations." He emphasised the agreement's potential to create jobs, strengthen supply chains, and provide a thriving environment for businesses. Boosting non-oil trade and market access The UAE-Serbia CEPA aims to boost bilateral non-oil trade, which reached approximately US$121.4 million in 2024, double the volume of 2021. The agreement is expected to contribute US$351 million to UAE GDP by 2031. This is to be achieved by eliminating or reducing customs duties for over 96% of tariff lines, thereby enhancing market access. Serbia: A strategic gateway to Europe Serbia's strategic location and diversified economy make it a key partner for the UAE. The CEPA will enable increased trade and investments in critical sectors such as renewable energy, agriculture, logistics, and technology. With the UAE already accounting for 55% of Serbia's total trade with the GCC in 2023, the agreement is poised to deepen economic engagement. Driving UAE's global trade ambitions This agreement aligns with the UAE's broader CEPA strategy, which is central to its goal of increasing total non-oil trade to US$1.1 trillion and doubling the size of its economy to US$800 billion by 2031. A growing CEPA network The UAE-Serbia CEPA is the 10th agreement to officially come into force. In total, 27 CEPAs have been concluded with countries across the Middle East, Africa, Southeast Asia, South America, and Europe, reflecting the UAE's ongoing efforts to position itself as a global trade hub.
Al Etihad
7 days ago
- Business
- Al Etihad
Thani Al Zeyoudi participates in inaugural ASEAN-GCC-China Economic Forum in Kuala Lumpur
27 May 2025 18:34 KUALA LUMPUR (WAM)The UAE, represented by Dr Thani Al Zeyoudi, UAE Minister for Foreign Trade, participated in the inaugural ASEAN-GCC-China Economic Forum in Kuala Lumpur, Zeyoudi underscored how greater collaboration across Asia can accelerate growth, drive innovation and consolidate the region's rise a global economic power. He also reaffirmed the UAE's commitment to building strong trade and investment partnerships across the world and that the future-focused nations of Asia were natural partners in these and business representatives from 17 nations gathered in the Malaysian capital to exchange views on how they work together to navigate today's complex economic and geopolitical Zeyoudi said the Forum offered the chance for attending nations to align their economic visions to achieve strong growth, "By deepening our connections and exploring avenues of mutual interest, the GCC, China and ASEAN bloc can not only maintain our own upward growth trajectories but become the driving force of the global economy. "Our foreign trade policy has been designed to bring our economy closer to the markets of Asia and together we can increase the flow of goods and services between us, support vital infrastructure projects, share knowledge, and accelerate innovation. This forum has underlined the depth of this potential – and created the platform to help the nations of our high-growth regions realise it," he UAE enjoys positive trade and investment ties with nations across Asia, including the ASEAN bloc. The UAE has concluded Comprehensive Economic Partnership Agreements (CEPAs) with Indonesia, Cambodia, Vietnam and Malaysia, helping to propel the UAE's non-oil foreign trade with ASEAN countries to $37.7 billion in 2024, a growth of 4.2% compared to 2023 and 16.8% more than in countries accounted for 4.6% of the UAE's total non-oil trade with the world in 2024, and 11.3% of the UAE's trade with non-Arab Asian countries.|The UAE also enjoys has strong trade and investment links with China. The total value of UAE–China non-oil trade reached $90.1 billion in 2024, reflecting a growth of 4% compared to 2023, and increases of 16.5% and 48% compared to 2022 and 2021, remained the UAE's top trading partner in 2024, accounting for 11% of the UAE's total non-oil trade with the Forum, held in conjunction with the inaugural ASEAN-GCC-China Summit, 2nd ASEAN-GCC Summit and 46th ASEAN Summit, brought together leaders and representatives from China, the ten Association of South East Asian Nation nations – Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam - and the six Gulf Cooperation Council nations – Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the these countries are home to more than two billion consumers, and account for over 20% of the world's GDP.
Web Release
24-05-2025
- Business
- Web Release
Ministry of Economy participates in 4th ‘Make it in the Emirates' Forum to promote innovation and industrial sustainability
The Ministry of Economy participated in the fourth edition of the 'Make it in the Emirates' Forum, in the presence of H.E. Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade. Organized by the Ministry of Industry and Advanced Technology, the event took place recently at ADNEC Centre, Abu Dhabi, under the theme 'Advanced Industries. Accelerated.' The forum seeks to foster innovation, boost economic diversification and industrial sustainability, and position the UAE as a global destination for future industries, while also encouraging investors, innovators, and project developers to localize manufacturing. H.E. Dr. Al Zeyoudi emphasized that the UAE, under the directives of its wise leadership, continues to foster a favorable trade and investment environment to support national industrial products in line with international best practices. The country aims to enhance the global and regional competitiveness of its products by strengthening economic partnerships with key strategic markets via the Comprehensive Economic Partnership Agreements (CEPAs). These agreements play a crucial role in opening up new export opportunities and expanding market access for national industrial products, supporting the national goal of increasing non-oil exports to AED 800 billion by 2030, in line with the 'We the UAE 2031' vision. His Excellency stated: 'The forum serves as a key national platform for advancing the UAE's industrial sector, promoting partnerships in future industries, and sharing expertise in industrial design and relevant advanced technologies. This enhances our nation's transition into a sustainable knowledge and innovation-based economy.' H.E. added that the Ministry's participation reflects its commitment to supporting the national efforts aimed at creating an advanced industrial ecosystem and promoting sustainable growth. It also enables national industrial capabilities that contribute to developing high-quality local products capable of competing in global markets. Furthermore, the Ministry's participation in the forum aligns with its goal to enhance the benefits of its 'Green Intellectual Property' initiative that integrates intellectual property into sustainability, green energy, and clean energy sectors. At its forum pavilion, the Ministry showcased its projects and initiatives related to intellectual property, innovation, and industrial sustainability, underscoring its support for entrepreneurs and startups seeking to expand into advanced industrial markets from the UAE, as well as the various opportunities it offers in this regard. The Ministry's participation also contributed to enhancing engagement with private sector companies operating in industrial sectors locally and internationally, encouraging them to grow their businesses and product lines within the UAE market by leveraging the country's enabling business environment.
Khaleej Times
20-05-2025
- Business
- Khaleej Times
UAE manufacturers urged to take advantage of local port operators' global presence
Manufacturers in the UAE have been asked to take advantage of local port operators' global presence. Speaking during a panel discussion at the Make it in the Emirates in Abu Dhabi on Monday, Dr Thani Al Zeyoudi, UAE's minister of state for foreign trade, encouraged local exporters to take advantage of the strong presence of DP World and Abu Dhabi Ports within and outside the UAE. 'They are important and play a key role in logistics sectors. They are very important in the world, managing more than two-thirds of global ports,' he added. The Dubai-based global ports operator DP World has presence across dozens of countries, managing ports, economic zones and logistics facilities in America, Asia, the Middle East, Africa and other regions. Abu Dhabi Ports owns and operates 10 ports and terminals in the UAE. Each facility is strategically located, harnessing sea, air, road and rail connectivity to provide gateways to global markets. This wider presence across various countries of local port operators makes it even easier for local manufacturers and exporters to export their goods globally. The fourth edition of the Make it in the Emirates exhibition and conferences is taking place from May 19 to 22 at Adnec Centre in Abu Dhabi, showcasing various products manufactured locally from defence to AI to space. Ø´Ù�دذ اÙ�جÙ�سة اÙ�Ù�زارÙ�Ø© Ù�Ù�اشاÙ� Ù�ØÙ�رÙ�اÙ� بعÙ�Ù�اÙ� "إعادة ذعرÙ�Ù� اÙ�صÙ�اعة Ù�اÙ�ذجارة Ù�اÙ�اسذثÙ�ار"Ø� ØÙ�Ø« Ù�دÙ�Ù� اÙ�Ù�ادة رؤÙ� اسذراذÙ�جÙ�Ø© ØÙ�Ù� سÙ�بÙ� بÙ�اء اÙ�ذصاد صÙ�اعÙ� Ù�Ø°Ù�اÙ�Ù� Ù�Ù�ائÙ� عÙ�Ù� اÙ�Ù�Ù�Ù�Ø©Ø� Ù�Ù�Ø°Ù�اسÙ� عÙ�Ù� اÙ�Ù�سذÙ�Ù� اÙ�عاÙ�Ù�Ù� اÙ�Ø·Ù�اÙ�اÙ� Ù�Ù� دÙ�Ù�Ø© اÙ�Ø¥Ù�اراذ. ð���ï¸� 19 â�� 22 Ù�اÙ�Ù� 2025 ð��� Ù�رÙ�ز أدÙ�Ù�Ù� أبÙ�ظبÙ� سجÙ�Ù� اÙ�Ø¢Ù�â�¦ — MIITE (@MIITEUAE) May 19, 2025 Dr Thani added that the UAE offers opportunities to manufacturers to tap a 2.5 billion wider market in case of supply chain challenges in the region. He pointed out that the Middle East market is just around 500 million, therefore, the bigger 2.5 billion market 'helps a lot in providing alternatives for UAE manufacturers in case of supply chain issues". Within a four-hour radius, exporters in the UAE can reach over 2 billion people. Located at a crossroad between east and west, the UAE greatly benefits from its central location. In addition, exporters can cash in on the strong connectivity that UAE carriers Emirates, Etihad and flydubai provide. The minister noted that studies show that trade agreements increase countries' GDP by 15 per cent. 'Comprehensive Economic Partnership Agreements (CEPAs) guarantee investors bigger markets,' he said, adding that more CEPAs 'will be signed in the coming few weeks". The minister stressed that each emirate complements the other when it comes to economic diversification of the economy. 'We have the UAE Industrial Council and there are representatives of all stakeholders. Plus, coordination of policies is happening and we are working to overcome challenges that manufacturers face. We are keen to attract more investment. We want natural resources that are affordable and sustainable because we want prices to be stable as volatility will harm the credibility of the market. We need competency and skills in the manufacturing sector. Our products are exported everywhere in the world.' The minister stated that they're coordinating with local and federal stakeholders in attracting talent from other countries as well as through the Nafis programme dedicated to UAE citizens. Speaking during the panel discussion, Ahmed Al Zaabi, chairman of the Abu Dhabi Department of Economic Development, revealed that the number of factories has tripled in the manufacturing sector in the Capital over the last few years. 'We have many initiatives through which we can help to open a factory, provide funding and import raw materials." In the last two years, Al Zaabi noted that the industrial sector's contribution to Abu Dhabi GDP has grown by over 22 per cent from Dh91 billion to Dh111.6 billion.
Dubai Eye
18-05-2025
- Business
- Dubai Eye
Dubai to showcase innovative manufacturing ecosystem at 'Make it in Emirates'
The Dubai Department of Economy and Tourism (DET) will showcase the city's dynamic manufacturing sector at 'Make it in the Emirates', scheduled to be held from May 19 to 22 at ADNEC Centre Abu Dhabi. The forum brings together government entities, investors and manufacturers to advance the nation's industrial and export ambitions. The Dubai Pavilion will serve as a central platform that brings together the emirate's key enablers of industrial growth, including Dubai Industrial City (DIC), National Industries Park (NIP), Dubai Integrated Economic Zones Authority (DIEZ), Dubai Chambers, and Dubai South. This strategic collaboration provides both existing manufacturers and prospective investors with direct access to comprehensive insights, resources, and opportunities, empowering them to explore and capitalise on the competitive advantages that Dubai offers to modern industrial enterprises. The emirate has successfully attracted new investment into manufacturing. In the first nine months of 2024, the manufacturing sector in Dubai recorded a GDP of AED28.3 billion. DET will showcase how Dubai's unified industrial landscape provides manufacturers with integrated access to world-class infrastructure, business incentives, and export support. Today, Dubai-based manufacturers supply critical goods to the UAE government and export to more than 130 countries, capitalising on Comprehensive Economic Partnership Agreements (CEPAs) to access high-growth markets competitively. "Dubai's manufacturing sector is gaining momentum because we have built the fundamentals for sustained industrial growth, competitive infrastructure, smart regulation, and access to global markets. What we are seeing today is the result of long-term planning, public-private collaboration, and a clear ambition under our wise leadership and the Dubai Economic Agenda D33," said Hadi Badri, CEO of the Dubai Economic Development Corporation (DEDC). "This is a market where manufacturers can innovate, scale, and export with confidence." As part of its participation, DET will present a range of initiatives driving Dubai's industrial growth, including the Export Assistance Programme (EAP), which encourages Dubai-based companies to pursue export promotion activities in foreign markets, offering support to qualifying small and medium-sized enterprises (SMEs) through a network of international offices. DET will also highlight the Elite Buyer Programme, which supports Dubai's strategy to position Dubai as a leading global sourcing hub for high-demand products in fast-growing consumer markets. The pavilion will additionally highlight the Industry Friendly Power Policy that Dubai has introduced as part of the D33 Agenda, aimed at promoting green and cost-efficient energy use across the manufacturing, data centre, and agri-tech sectors. The policy offers incentives such as a 25 per ent reduction in connection charges, interest-free credit, and support for 100 per cent onsite renewable generation, aligning with the emirate's net-zero goals. In 2024, Dubai attracted AED52.3 billion ($14.2 billion) in FDI, a 33.2 per cent increase from the previous year, marking the highest FDI value ever recorded in a single year. Dubai also saw a record 1,117 Greenfield FDI projects and 1,826 announced FDI projects, creating 58,680 jobs. Manufacturing continued its strong momentum with AED5,767 million ($1,571.4 million) in FDI capital, up from AED2,411 million ($657.1 million) compared to 2023.
