Latest news with #UAE-EU
Dubai Eye
14 hours ago
- Business
- Dubai Eye
UAE, EU deepen trade ties, advance CEPA negotiations in Brussels
The UAE and the European Union have reaffirmed their commitment to strengthening bilateral relations and advancing negotiations toward a Comprehensive Economic Partnership Agreement (CEPA) during a meeting in Brussels. Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of Foreign Trade, met with Maroš Šefčovič, European Commissioner for Trade, to review progress following the first round of CEPA negotiations, held in June and early July. The discussions served as a platform to assess ongoing developments and reinforce the shared objective of deepening trade, investment and economic cooperation. Both sides expressed optimism and the long-term benefits of the agreement. In 2024, non-oil trade between the UAE and the EU reached $67 billion, reflecting a 2.4 per cent increase over the previous year. The EU remains one of the UAE's most significant trade partners, accounting for 8.3 per cent of its total non-oil trade. 'The European Union is a highly valued trade and investment partner for the UAE, with ties that continue to deepen across a range of sectors. This growth in trade is aligned with our mutual interests and highlights the importance of collaboration in areas such as energy transition, advanced technology and food security,' said Dr. Al Zeyoudi. During the meeting, both parties discussed strategies to expand investment in high-growth sectors, including renewable energy and advanced manufacturing. The UAE has already developed strong partnerships with several EU member states, supported by active joint projects in solar energy and innovative technologies. As the UAE continues to diversify its economy, the CEPA programme remains a key pillar of its foreign trade agenda. A successful UAE-EU CEPA is expected to enhance market access, attract investment and support sustainable economic development across both regions.
Mid East Info
21 hours ago
- Business
- Mid East Info
HE Dr. Thani Al Zeyoudi Meets EU Trade Commissioner Maroš Šefčovič in Brussels to Strengthen Bilateral Relations
UAE-EU bilateral non-oil trade in 2024 reached US$67 billion, which represents a growth of 2.4% compared to 2023. The EU is the second-largest trade partner of the UAE, accounting for 8.3% of total UAE non-oil trade in 2024. HE Al Zeyoudi: ' Our continued dialogue with the EU is essential in navigating the evolving global trade landscape. The European Union is a highly valued trade and investment partner for the UAE, with ties that continue to deepen across a range of sectors .' Brussels, Belgium – July, 2025: His Excellency Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of Foreign Trade, met with His Excellency Maroš Šefčovič, European Commissioner for Trade, to discuss the strengthening of bilateral relations between the UAE and the European Union. The meeting in Brussels was also an opportunity to review progress on the negotiations towards a Comprehensive Economic Partnership Agreement (CEPA), following the first round of discussions held in June and early July. As UAE-EU bilateral relations continue to strengthen, the UAE-EU CEPA is anticipated to play a vital role in enhancing trade ties, fostering investment opportunities, and driving economic growth between the two parties. Both parties expressed optimism about the progress and potential benefits of the agreement. In 2024, non-oil trade between the UAE and the EU reached US$67 billion, reflecting a 2.4% growth over the previous year. The EU continues to be a significant trade partner for the UAE, accounting for 8.3% of its total non-oil trade. HE Al Zeyoudi remarked, 'Our continued dialogue with the EU is essential in navigating the evolving global trade landscape. The European Union is a highly valued trade and investment partner for the UAE, with ties that continue to deepen across a range of sectors. This growth in trade is aligned with our mutual interests and highlights the importance of collaboration in areas such as energy transition, advanced technology, and food security.' The meeting served as a platform for both parties to discuss strategies for increasing investments in high-growth sectors, including renewable energy and advanced manufacturing. The UAE has already established significant partnerships with EU nations, reinforced by ongoing projects in solar energy and innovative technologies. The UAE delegation to Brussels included His Excellency Mohamed Al Sahlawi, UAE Ambassador to Belgium, the European Union and Luxembourg, and His Excellency Juma Al Kait, Assistant Undersecretary at the UAE Ministry of Foreign Trade. As the UAE continues to diversify its economy, the CEPA program represents a strategic pillar of its foreign trade agenda. By solidifying trade relationships with key partners like the EU, the UAE aims to enhance access to global markets and stimulate sustainable economic development.
Al Etihad
a day ago
- Business
- Al Etihad
UAE, EU explore ways to enhance trade, investment relations
BRUSSELS (WAM) Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of Foreign Trade, met with Maroš Šefčovič, European Commissioner for Trade, to discuss the strengthening of bilateral relations between the UAE and the European Union. The meeting in Brussels was also an opportunity to review progress on the negotiations towards a Comprehensive Economic Partnership Agreement (CEPA), following the first round of discussions held in June and early July. As UAE-EU bilateral relations continue to strengthen, the UAE-EU CEPA is anticipated to play a vital role in enhancing trade ties, fostering investment opportunities, and driving economic growth between the two parties. Both parties expressed optimism about the progress and potential benefits of the agreement. In 2024, non-oil trade between the UAE and the EU reached $67 billion, reflecting a 2.4% growth over the previous year. The EU continues to be a significant trade partner for the UAE, accounting for 8.3% of its total non-oil trade. Al Zeyoudi remarked, 'Our continued dialogue with the EU is essential in navigating the evolving global trade landscape. The European Union is a highly valued trade and investment partner for the UAE, with ties that continue to deepen across a range of sectors. This growth in trade is aligned with our mutual interests and highlights the importance of collaboration in areas such as energy transition, advanced technology, and food security.' The meeting served as a platform for both parties to discuss strategies for increasing investments in high-growth sectors, including renewable energy and advanced manufacturing. The UAE has already established significant partnerships with EU nations, reinforced by ongoing projects in solar energy and innovative technologies. The UAE delegation to Brussels included Mohamed Al Sahlawi, UAE Ambassador to Belgium, the European Union and Luxembourg, and Juma Al Kait, Assistant Undersecretary at the UAE Ministry of Foreign Trade. As the UAE continues to diversify its economy, the CEPA programme represents a strategic pillar of its foreign trade agenda. By solidifying trade relationships with key partners like the EU, the UAE aims to enhance access to global markets and stimulate sustainable economic development.
Al Etihad
10-07-2025
- Business
- Al Etihad
UAE to see enhanced trade prospects, investor optimism after removal from EU's AML/CTF list
11 July 2025 00:50 MAYS IBRAHIM (ABU DHABI)The European Parliament's decision to remove the UAE from its money laundering watch list is a testament to the country's regulatory progress and is expected to unlock new opportunities for trade, investment, and strategic partnerships, according to with Aletihad, Ashish Mehta, founder and managing partner of legal services firm Ashish Mehta and Associates, explained the legal implications of this delisting.'The fact that the UAE has been able to get itself delisted … shows that governments [federal and local] and their respective agencies within the UAE have been very efficient and encouragingly proactive in meeting the EU's requirements,' he foresees a shift in the way international firms will approach corporate structuring or risk assessment when establishing a presence in the UAE.'Getting delisted from the EU's watch list means that the UAE has been able to put in place the necessary legal and regulatory framework, which now complies with EU's standards. The international firms already present in the UAE, or wishing to establish a presence, should therefore expect heightened accountability norms,' he said. Turning Point in UAE-EU Relations Ehtesham Shahid, a UAE-based editor and researcher, described the delisting as 'a positive inflection point' in UAE–EU diplomatic relations.'For the EU, it signals recognition of the UAE's regulatory reforms and enforcement efforts in combating illicit financial flows. For the UAE, it's a diplomatic win that validates its compliance with international standards, particularly those aligned with the Financial Action Task Force (FATF),' he told a broader perspective, Shahid pointed out that this decision reflects increasing trust and alignment between Brussels and Abu Dhabi, potentially paving the way for more strategic cooperation in climate and energy transition, trade facilitation, security, and counterterrorism. 'It also reinforces the UAE's status as a bridge between Europe and emerging markets in Asia and Africa, aligning well with the EU's evolving Global Gateway strategy,' he added. Investor Confidence and FDI Set to Climb Experts maintain that the delisting will significantly bolster investor confidence, particularly among European institutional investors who are risk-sensitive to regulatory flags. 'When a jurisdiction is listed for money laundering concerns, it introduces reputational and operational risks. Removal from the watch list eliminates this friction and reduces compliance hurdles for cross-border financial transactions,' Shahid said.'As for FDI growth, the impact will likely be sector-specific, favouring industries where transparency and regulatory alignment are critical for capital flows,' he noted. Mehta added that this validation by the EU is bound to enhance the UAE's credibility ratings, which in turn would build investor confidence in several legitimate business sectors. 'A validation from the EU's authorities would naturally motivate global businesses to invest in the UAE with a renewed sense of interest and vigour, and with a greater sense of security and validation back home,' he said. Beyond investment, the move could revitalise bilateral trade flows between the UAE and the EU, according to Mehta. 'Even the UAE's businesses would greatly benefit as they are also likely to find greater recognition within the EU,' he said. Shahid also pointed out that the UAE's successful delisting positions it as a regional leader in financial governance. 'It positions the UAE ahead of peers who remain under scrutiny. This allows it to lead in setting regional norms on financial governance and anti-money laundering [AML] practices,' he said.
Gulf Today
10-07-2025
- Business
- Gulf Today
UAE welcomes removal from EU list of high-risk third countries for AML/CFT
Statement attributed to Ahmed in Ali Al Sayegh, Minister of State: "The UAE welcomes the European Parliament's endorsement of the European Commission's updated list of high-risk third countries for money laundering and terrorist financing. The decision stands as clear, independent recognition of our nation's unwavering commitment to the highest international standards in combating global financial crime." "The UAE remains a reliable and strategic partner to the EU, committed to ensuring AML/CFT systems are not only robust, but also future-proof and capable of addressing emerging global threats," said Al Sayegh. "As one of the world's fastest growing economies and as a trusted global financial hub, the UAE will continue working with all our global partners to safeguard the integrity of the global financial system. We look forward to unlocking the full potential of the UAE-EU partnership, fostering closer cooperation, enhanced prosperity and shared security for our regions and peoples," he said. Saqr Ghobash, Speaker of the Federal National Council (FNC), praised the European Parliament's decision to remove the UAE from the list of high-risk third countries for money laundering and terrorist financing. He emphasised that the decision is a testament to the UAE's advanced standing in establishing a robust and integrated regulatory and legislative framework that adheres to the highest international standards. FNC Speaker commended the exceptional diplomatic efforts led by Sheikh Abdullah Bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Foreign Affairs, noting that these efforts were instrumental in achieving this significant milestone. He highlighted how this success reflects the wise leadership's approach in promoting transparency, openness, and international cooperation. Ghobash also underscored the strategic partnership between the FNC and the European Parliament, stressing the importance of building on this progress to expand parliamentary cooperation and enhance coordination on regional and global issues of mutual interest. FNC Speaker noted that the decision paves the way for new opportunities in economic and trade collaboration and directly contributes to accelerating the ongoing negotiations for a free trade agreement between the UAE and the EU. This, he said, serves mutual interests and supports sustainable growth and economic prosperity for both parties. WAM
