Latest news with #ComprehensiveEconomicPartnershipAgreements
Al Etihad
30-07-2025
- Business
- Al Etihad
UAE's non-oil foreign trade surges in H1 2025, growing 14 times faster than global average: Al Zeyoudi
30 July 2025 18:01 ABU DHABI (WAM) Dr Thani bin Ahmed Al Zeyoudi, Minister of Foreign Trade, said that the UAE achieved historic figures in non-oil foreign trade during the first half of 2025, with a growth rate exceeding 24.5%.The total value reached over Dh1.7 trillion, a rate 14 times higher than the global average of approximately 1.75%, reflecting the strength of the UAE's long-term economic strategies and forward-looking statements to Emirates News Agency (WAM), Al Zeyoudi revealed updates on the UAE's Comprehensive Economic Partnership Agreements (CEPAs). He noted that the country has concluded 28 agreements, with 10 already in force, and between three and six more expected to be signed before the end of the Zeyoudi congratulated the UAE's wise leadership and business community on the unprecedented trade results, attributing the success to the nation's sustained strategic planning and sound economic highlighted the vital role played by the UAE's expanding international partnerships, comprehensive economic system, and advanced logistics infrastructure in solidifying the country's position as a global trade said that imports rose by 22.5%, reinforcing the UAE's position as a major global re-export centre. Re-export value increased by 14% to reach approximately Dh389 billion, emphasising the country's pivotal role in global supply added that non-oil exports witnessed a significant leap to nearly Dh370 billion, three times their value five years exports accounted for more than 21.4% of total foreign trade, demonstrating the effectiveness of the UAE's diversification strategy and industrial sector also highlighted the outcomes of the National Industrial Strategy, which focused on transitioning from re-exporting to direct exporting and on targeting specific markets through Comprehensive Economic Partnership Agreements (CEPAs). This strategic shift, he noted, has contributed to market diversification and significantly enhanced the global competitiveness of UAE-made noted that trade with India recorded a growth of nearly 34%, while trade with Türkiye surged by over 40%, underscoring the tangible impact of the UAE's open economic policy and proactive engagement with global markets. The opening of international markets to Emirati producers, exporters, and manufacturers, alongside efforts to attract foreign direct investment, constitutes a core pillar of the nation's trade strategy, Al Zeyoudi said in conclusion.
Hi Dubai
14-07-2025
- Business
- Hi Dubai
Dubai Chamber of Commerce Highlights CEPA Benefits in Boosting Services Exports
Dubai Chamber of Commerce has joined forces with the Ministry of Foreign Trade to host a workshop aimed at showcasing how the UAE's Comprehensive Economic Partnership Agreements (CEPAs) are driving growth in the local services export sector. The session brought together Business Groups from service-based industries to explore how CEPAs are opening new commercial and investment opportunities, enhancing global market access, and supporting the international expansion of UAE-based service providers. Attendees examined the direct benefits of CEPAs, such as reduced customs duties, simplified procedures, and improved regulatory transparency. The agreements span a wide range of sectors including finance, education, healthcare, tourism, engineering, and environmental services. Maha Al Gargawi, Vice President of Business Advocacy at Dubai Chambers, reaffirmed the chamber's commitment to supporting the private sector. She noted that the initiative reflects ongoing collaboration with the Ministry of Foreign Trade to help businesses capitalise on CEPA-driven opportunities. The session also emphasised the role of CEPAs in positioning the UAE as a strategic global trade hub. By strengthening ties between government and industry, the Dubai Chamber's Business Groups continue to play a critical role in shaping a more competitive and resilient business environment. News Source: Emirates News Agency
Gulf Today
13-07-2025
- Business
- Gulf Today
Workshop highlights the role of CEPAs in boosting service exports
Dubai Chamber of Commerce, one of the three chambers operating under the umbrella of Dubai Chambers, has successfully organised a workshop in collaboration with the Ministry of Foreign Trade to explore the role of the Comprehensive Economic Partnership Agreements (CEPAs) signed by the UAE in driving the growth of the local services export sector. The session was attended by representatives of Business Groups operating under the chamber that specialise in the service industries. The workshop focused on how CEPAs are creating promising commercial and investment opportunities for the private sector, expanding the global reach of the local services industry, and increasing the potential for the export of services. Participants learned more about how various sectors can benefit from CEPAs and how these agreements support the growth and international expansion of local companies engaged in the delivery of services. This includes business services; communications; engineering and construction; distribution; environmental services; education; financial and insurance services; healthcare and social services; and travel and tourism; as well as recreational, cultural, sports, and transport services. The session also explored the provisions of the agreements and their role in strengthening the UAE's position as a key gateway for the export of goods and services. The workshop highlighted the advantages of CEPAs, including improved access to international markets, reduction or elimination of customs duties, streamlined customs procedures, and the establishment of clear and transparent regulations. In addition, the agreements are designed to promote fair competition and trade-based growth. During her opening remarks, Maha Al Gargawi, Vice President of Business Advocacy at Dubai Chambers, commented, 'We are committed to supporting the private sector and raising awareness around key aspects of the business environment to help enhance global competitiveness. CEPAs offer tangible benefits for the business community, and today's session is an important part of our ongoing cooperation with the Ministry of Foreign Trade to ensure the private sector can capitalise on the diverse opportunities these agreements present.' The Business Groups operating under Dubai Chamber of Commerce are instrumental in advancing a competitive and enabling business environment. They advocate for the interests of key industries, contribute to the development of policies and legislation that enhance sectoral competitiveness, and support various sectors in realising their strategic objectives. By fostering constructive engagement between the private sector and government stakeholders, these groups help shape a more agile and resilient business landscape, reinforcing the private sector's vital contribution to Dubai's economic development. Last month, Dubai Chamber of Commerce organised a workshop in collaboration with the Ministry of Economy to familiarise members of the Business Councils operating under the chamber with the provisions and benefits of the Comprehensive Economic Partnership Agreements (CEPAs) signed by the UAE. The workshop, which brought together leaders and members of Business Councils, highlighted the strategic role of CEPA agreements in unlocking new trade and investment opportunities for Dubai's private sector. Discussions explored how these agreements open up broader avenues for the exchange of goods and services, while also enhancing export and re-export prospects. Participants gained valuable insights into the practical benefits of CEPAs for companies across a range of sectors, and how these agreements can support long-term business growth and international expansion. The workshop reviewed key provisions of the agreements and their role in reinforcing the UAE's position as a leading gateway for global trade and logistics. It also introduced participants to the benefits of CEPAs, including improved access to international markets, reduction or elimination of customs duties, streamlined customs procedures, and the establishment of clear and transparent regulations. In addition, the agreements are designed to promote fair competition and trade-based growth. Maha Al Gergawi said, 'We are committed to supporting and empowering the members of Business Councils to benefit from promising investment opportunities that enhance the private sector's ability to grow and expand both locally and globally. This initiative forms part of our ongoing efforts to raise awareness among the business community on the importance and strategic value of CEPA agreements, which serve as a key driver for increasing the competitiveness of the national economy and advancing cross-border trade and investments.' The country-specific Business Councils operating under the umbrella of Dubai Chamber of Commerce work in close collaboration with the chamber to stimulate bilateral trade and investment. They facilitate stronger connections between Dubai-based companies and businesses from the markets represented, with the goal of strengthening strategic economic partnerships. WAM
Mid East Info
12-07-2025
- Business
- Mid East Info
Dubai Chamber of Commerce and Ministry of Foreign Trade highlight role of Comprehensive Economic Partnership Agreements in boosting service exports
Dubai, UAE – Dubai Chamber of Commerce, one of the three chambers operating under the umbrella of Dubai Chambers, has successfully organised a workshop in collaboration with the Ministry of Foreign Trade to explore the role of the Comprehensive Economic Partnership Agreements (CEPAs) signed by the UAE in driving the growth of the local services export sector. The session was attended by representatives of Business Groups operating under the chamber that specialise in the service industries. The workshop focused on how CEPAs are creating promising commercial and investment opportunities for the private sector, expanding the global reach of the local services industry, and increasing the potential for the export of services. Participants learned more about how various sectors can benefit from CEPAs and how these agreements support the growth and international expansion of local companies engaged in the delivery of services. This includes business services; communications; engineering and construction; distribution; environmental services; education; financial and insurance services; healthcare and social services; and travel and tourism; as well as recreational, cultural, sports, and transport services. The session also explored the provisions of the agreements and their role in strengthening the UAE's position as a key gateway for the export of goods and services. The workshop highlighted the advantages of CEPAs, including improved access to international markets, reduction or elimination of customs duties, streamlined customs procedures, and the establishment of clear and transparent regulations. In addition, the agreements are designed to promote fair competition and trade-based growth. During her opening remarks, Maha Al Gargawi, Vice President of Business Advocacy at Dubai Chambers, commented: 'We are committed to supporting the private sector and raising awareness around key aspects of the business environment to help enhance global competitiveness. CEPAs offer tangible benefits for the business community, and today's session is an important part of our ongoing cooperation with the Ministry of Foreign Trade to ensure the private sector can capitalise on the diverse opportunities these agreements present.' The Business Groups operating under Dubai Chamber of Commerce are instrumental in advancing a competitive and enabling business environment. They advocate for the interests of key industries, contribute to the development of policies and legislation that enhance sectoral competitiveness, and support various sectors in realising their strategic objectives. By fostering constructive engagement between the private sector and government stakeholders, these groups help shape a more agile and resilient business landscape, reinforcing the private sector's vital contribution to Dubai's economic development.
The National
10-07-2025
- Business
- The National
UAE's 27 Comprehensive Economic Partnership Agreements explained
The UAE has concluded 27 Comprehensive Economic Partnership Agreements following the signing of a trade deal with Azerbaijan on Wednesday. Ten of these deals – with India, Indonesia, Israel, Turkey, Cambodia, Georgia, Costa Rica, Mauritius, Serbia and Jordan – have been implemented and are operational, according to data from the Ministry of Foreign Trade. These are already yielding benefits. Agreements with other trading partners – Australia, South Korea, Malaysia, New Zealand, Chile, Colombia, Kenya, Ukraine, Vietnam, Central African Republic, the Republic of Congo, Eurasia, Belarus and Azerbaijan – are yet to be implemented. Talks have also concluded with the Philippines, Morocco and Armenia. On Wednesday, UAE signed the Cepa with Azerbaijan as the two countries look to boost investment flows and unlock opportunities in renewable energy, tourism, logistics, and construction services. The deal is also expected to enhance private sector collaboration as well as supporting entrepreneurs and small and medium enterprises to expand their operations globally, Wam reported. UAE-Azerbaijan bilateral non-oil trade in 2024 rose 43 per cent year-on-year to $2.4 billion. The UAE is the top Arab investor in Azerbaijan, with investments of more than $1 billion. The Cepa initiative is an important pillar of the foreign trade agenda. The UAE aims to increase non-oil foreign trade to $1.1 trillion by 2031. Cepas aim to reduce tariffs and remove trade bottlenecks through simpler procedures and rules. They have boosted UAE trade with partner countries since 2022. Ahead of schedule In 2024, the UAE's non-oil foreign trade hit a record Dh3 trillion ($816.7 billion), up 14.6 per cent year-on-year, as the Emirates continues to diversify its economy and forges closer trade ties with countries around the globe. Cepas have contributed Dh135 billion to the UAE's non-oil trade with partner nations, an increase of 42 per cent compared to the previous year, Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, said on X last month. 'In 2021, we set a goal of reaching Dh4 trillion in annual foreign trade by 2031. By the end of 2024, we have already achieved 75 per cent of that target. At this pace, we will reach it years ahead of schedule,' Sheikh Mohammed said. Bilateral trade surge The UAE signed its first Cepa with India in February 2022, with the agreement taking effect that May. Bilateral non-oil trade surged to $50.5 billion in the following 12 months – a 5.8 per cent annual increase. Israel was the second country with which the UAE signed a Cepa, followed by Indonesia and Turkey. A deal with Israel came into effect on April 1, 2023 and aims to boost non-oil bilateral trade to $10 billion by the end of the decade – up from $1.3 billion in 2021, the Ministry of Economy said previously. The UAE and Israel established relations with the Abraham Accords in 2020, and later signed agreements in areas including technology and aviation. A deal with Indonesia, which came into effect in September 2023, is expected to boost the UAE's non-oil trade with Jakarta to $10 billion by 2027. The agreement with Turkey aims to achieve trade worth $40 billion by 2028, while the deal with Cambodia has a target of $1 billion by 2025 or 2027. The UAE-Cambodia Cepa, which came into force on January 2023, is expected to provide market access to companies operating in both countries, as well as boost investment opportunities and support for small and medium enterprises, according to the Ministry of Economy website. The Cepa between the UAE and Georgia was signed in 2023 and came into effect in June last year. It is expected to more than triple the total value of non-oil trade between the two countries to $1.5 billion within five years, while adding $3.9 billion to the UAE's gross domestic product and $291 million to Georgia's GDP by 2031.
