Latest news with #HEAlZeyoudi
Mid East Info
6 days ago
- Business
- Mid East Info
HE Al Zeyoudi welcomes EU Trade Commissioner Maroš Šefčovič to the UAE for CEPA Talks - Middle East Business News and Information
In 2024, non-oil trade between the UAE and the EU reached US$67.6 billion, representing a growth of 3.6% over 2023. HE Al Zeyoudi: 'Our negotiations toward a UAE-EU CEPA 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.' 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.
Mid East Info
27-05-2025
- Business
- Mid East Info
UAE delegation highlights potential of pan-Asian collaboration at the inaugural ASEAN-GCC-China Economic Forum
HE Al Zeyoudi: ' 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.' The UAE's non-oil trade with ASEAN nations reached USD$37.7 billion in 2024, accounting for 4.6% of the UAE's total non-oil trade. The UAE's non-oil trade with China reached USD$90.1 billion in 2024, making it the UAE's largest non-oil trading partner. Kuala Lumpur, Malaysia – May 2025: The UAE, represented by His Excellency Dr Thani Al Zeyoudi, UAE Minister for Foreign Trade, participated in the inaugural ASEAN-GCC-China Economic Forum in Kuala Lumpur, Malaysia. HE Al Zeyoudi underscored how greater collaboration across Asia can accelerate growth, drive innovation and consolidate the region's rise a global economic power. HE Al Zeyoudi 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 efforts. Leaders 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 landscape. HE Al 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 realize it.' The 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 US$37.7 billion in 2024, a growth of 4.2% compared to 2023 and 16.8% more than in 2022. ASEAN 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 USD$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, respectively. China remained the UAE's top trading partner in 2024, accounting for 11% of the UAE's total non-oil trade with the world. 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 UAE. Together, these countries are home to more than two billion consumers, and account for over 20% of the world's GDP.
Mid East Info
14-05-2025
- Business
- Mid East Info
UAE-Jordan Comprehensive Economic Partnership Agreement To Come Into Force - Middle East Business News and Information
The UAE-Jordan CEPA is set to drive bilateral non-oil trade to US$8 billion by 2032, building on the existing trade growth which surpassed US$5.6 billion in 2024. HE Al Zeyoudi: 'The launch of the UAE-Jordan CEPA marks a significant advancement in our economic collaboration, creating new avenues for growth and mutual prosperity.' Abu Dhabi, UAE – May 2025: The Comprehensive Economic Partnership Agreement (CEPA) between the United Arab Emirates and the Hashemite Kingdom of Jordan will officially come into effect tomorrow, heralding a new era of economic cooperation. This landmark agreement is the first CEPA signed between the UAE and an Arab nation, aimed at enhancing trade and investment ties, stimulating growth in key sectors, and empowering small and medium-sized enterprises (SMEs). With the CEPA entering into force tomorrow, the two nations aim to boost bilateral non-oil trade to over US$8 billion by 2032. This follows impressive year-on-year growth between 2023 and 2024 of 34.1%, with non-oil trade between the two nations reaching approximately US$5.62 billion in 2024. This agreement will eliminate or reduce tariffs and remove trade barriers, enhancing market access and strengthening regional and global supply chains. His Excellency Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, stated, 'This agreement signifies a new era of collaboration, enhancing our economic ties and creating a framework for shared growth and prosperity. Jordan has long been a valued partner for the UAE, and through this CEPA, we are poised to unlock numerous opportunities that will benefit both nations.' Jordan has been a vital partner for the UAE for many years, with bilateral non-oil trade experiencing tremendous growth over the last decade, increasing by 138%. The UAE is Jordan's fifth-largest trading partner globally, while the UAE remains the largest foreign investor in Jordan, with mutual investments estimated at approximately US$22.5 billion. The CEPA is expected to create significant opportunities across various sectors, including renewable energy, pharmaceuticals, logistics, and tourism. Jordan's highly-skilled workforce and strong industrial base, particularly in the production of phosphates, textiles, and pharmaceuticals, complements the UAE's expertise in energy, infrastructure, and finance, fostering a collaborative environment that enhances the global reach of both nations. The agreement was finalized following three rounds of negotiations, highlighting the shared commitment of both countries to quickly realize the benefits of the new agreement. The CEPA will also support SMEs by reducing trade restrictions and offering platforms for collaboration that will empower the next generation of entrepreneurs and innovators and ensure that the economic benefits are widely shared. The CEPA program is a vital element of the UAE's economic growth strategy, highlighting its commitment to establishing strong global trade partnerships. The UAE aims to double its economy to US$800 billion by 2030 and achieve over US$1.1 trillion in total non-oil trade value by 2031. The program significantly contributed to the UAE's record non-oil trade of US$816 billion in 2024, reflecting a 14.6% increase from 2023. With 27 concluded agreements, the CEPA program expands access for UAE businesses to over a quarter of the world's population.
Zawya
26-04-2025
- Business
- Zawya
HE Dr Thani Al Zeyoudi meets PM of Germany's North-Rhine Westphalia region to discuss collaboration in high-growth sectors
HE Al Zeyoudi: ' From the digital economy to energy transition and the green economy, we see a multitude of avenues for cooperation and investment with North-Rhine Westphalia, while our free-trade network can ensure the region's industrial output can seamlessly reach the key markets of Asia and Africa. ' Abu Dhabi, UAE – HE Dr Thani Al Zeyoudi, UAE Minister of State for Foreign Trade, has held talks with His Excellency Hendrik Josef Wüst, the Minister-President of the state of North Rhine-Westphalia in Germany, in which they agreed to pursue stronger trade ties and collaborate in key sectors such as technology, advanced manufacturing and the green economy. The meeting was followed by a business roundtable that paired senior figures from the region's private sector with their UAE counterparts to explore areas of mutual benefit and discuss partnership opportunities. North Rhine-Westphalia is the economic powerhouse of Germany. Home to 37 of the country's top 100 corporations, the region's GDP reached US$990 billion in 2024, which equates to 20% of Germany's total economic output. Although it has historically been Germany's industrial heartland, its economic vision is focusing on digital technologies, artificial intelligence, smart manufacturing and the green economy, with research projects into water management and agri-tech solutions. As such, it has many synergies with the United Arab Emirates, which is reflected in the growing ties between the two, including Emirati investments into North Rhine-Westphalia's ammonia value chain and the development of hydrogen as a form of renewable energy. HE Dr Thani said the meeting with HE Wüst highlighted these complementarities and offered a roadmap for greater collaboration in key sectors going forward. 'The United Arab Emirates has long enjoyed a positive and productive relationship with Germany, and North Rhine-Westphalia, with its industrial heritage and forward-looking vision, has been central to it. From the digital economy to energy transition and the green economy, we see a multitude of avenues for cooperation and investment, while our free-trade network can ensure the region's industrial output can seamlessly reach key markets in Asia and Africa. The UAE also remains an open, welcoming business environment for any enterprises from North Rhine-Westphalia seeking to expand into the Middle East and help develop our industrial and innovation ecosystem. Today's meeting with HE Wüst and the subsequent business roundtable will help create the networks that can facilitate this activity, and we remain on hand to support bilateral trade and investment flows in the months and years ahead.' The United Arab Emirates and Germany, the third-largest economy in the world, shared non-oil trade worth US$13.8 billion in 2024, a 5.4% increase on 2023. The UAE also has investments in excess of US$1.2 billion committed to projects across Germany. The UAE recently announced its intentions to open negotiations towards a Comprehensive Economic Partnership Agreement with the European Union, of which Germany is the single largest economy.
Mid East Info
26-04-2025
- Business
- Mid East Info
HE Dr Thani Al Zeyoudi meets PM of Germany's North-Rhine Westphalia region to discuss collaboration in high-growth sectors
North-Rhine Westphalia is Germany's most important state economically, contributing 20% of the country's GDP – HE Al Zeyoudi: 'From the digital economy to energy transition and the green economy, we see a multitude of avenues for cooperation and investment with North-Rhine Westphalia, while our free-trade network can ensure the region's industrial output can seamlessly reach the key markets of Asia and Africa.' Abu Dhabi, UAE – April, 2024: HE Dr Thani Al Zeyoudi, UAE Minister of State for Foreign Trade, has held talks with His Excellency Hendrik Josef Wüst, the Minister-President of the state of North Rhine-Westphalia in Germany, in which they agreed to pursue stronger trade ties and collaborate in key sectors such as technology, advanced manufacturing and the green economy. The meeting was followed by a business roundtable that paired senior figures from the region's private sector with their UAE counterparts to explore areas of mutual benefit and discuss partnership opportunities. North Rhine-Westphalia is the economic powerhouse of Germany. Home to 37 of the country's top 100 corporations, the region's GDP reached US$990 billion in 2024, which equates to 20% of Germany's total economic output. Although it has historically been Germany's industrial heartland, its economic vision is focusing on digital technologies, artificial intelligence, smart manufacturing and the green economy, with research projects into water management and agri-tech solutions. As such, it has many synergies with the United Arab Emirates, which is reflected in the growing ties between the two, including Emirati investments into North Rhine-Westphalia's ammonia value chain and the developmentof hydrogen as a form of renewable energy. HE Dr Thani said the meeting with HE Wüst highlighted these complementarities and offered a roadmap for greater collaboration in key sectors going forward. 'The United Arab Emirates has long enjoyed a positive and productive relationship with Germany, and North Rhine-Westphalia, with its industrial heritage and forward-looking vision, has been central to it. From the digital economy to energy transition and the green economy, we see a multitude of avenues for cooperation and investment, while our free-trade network can ensure the region's industrial output can seamlessly reach key markets in Asia and Africa. The UAE also remains an open, welcomingbusiness environment for any enterprises from North Rhine-Westphalia seeking to expand into the Middle East and help develop our industrial and innovation meeting with HE Wüst and the subsequent business roundtable will help create the networks that can facilitate this activity, and we remain on hand to support bilateral trade and investment flows in the months and years ahead.' The United Arab Emirates and Germany, the third-largest economy in the world, shared non-oil trade worth US$13.8 billion in 2024, a 5.4% increase on 2023. The UAE also has investments in excess of US$1.2 billion committed to projects across Germany. The UAE recently announced its intentions to open negotiations towards a Comprehensive Economic Partnership Agreement with the European Union, of which Germany is the single largest economy.
