Latest news with #tradepartnerships
Emirates 24/7
20-05-2025
- Business
- Emirates 24/7
Al Zeyoudi Highlights CEPA's Role in Driving UAE's Industrial Growth at 'Make It In The Emirates
His Excellency Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, participated in a high-level panel titled 'Redefining Industry, Trade, and Investment' during the opening ceremony of the 'Make It In The Emirates' forum. In his remarks, HE Al Zeyoudi underscored the UAE's commitment to expanding its industrial base through strategic trade partnerships and innovation-driven initiatives. Addressing a distinguished audience of manufacturers, investors, and industry leaders, HE Al Zeyoudi emphasized the transformative role of the Comprehensive Economic Partnership Agreement (CEPA) program in shaping the future of UAE's industrial landscape. 'The CEPA program is not only creating access to diverse markets — it is also facilitating knowledge transfer and skills development across various sectors. As we innovate and diversify, we are building a robust industrial foundation that will sustain our economic growth,' he stated. The 'Make It In The Emirates' event has emerged as a key platform to showcase investment opportunities in the UAE's industrial and manufacturing sectors. It highlights the country's strategic focus on economic diversification, technological innovation, and sustainable development, all aimed at driving export-led growth and enhancing industrial resilience. HE Al Zeyoudi pointed to the UAE's recent leap in global trade rankings as evidence of the country's successful strategy. According to the World Trade Organization's latest report, Global Trade Outlook and Statistics , the UAE ranked 11th globally in goods exports, reaching a value of US$603 billion in 2024 — a six-place rise since 2021. 'Through CEPA, we are integrating the UAE more deeply into global supply chains,' Al Zeyoudi noted. 'These partnerships are accelerating industrial development, encouraging technology adoption, and positioning the UAE as a global hub for industrial excellence.' The UAE's industrial development is guided by landmark initiatives such as Project 300 Billion and Make It In The Emirates, which aim to increase the contribution of the industrial sector to national GDP and transform the country into a leading destination for future industries, including advanced manufacturing, Industry 4.0, clean technologies, and logistics. 'By leveraging CEPA and advanced technologies, we are creating synergies between goods and services, paving the way for a diversified and future-ready economy,' he added. The event concluded with a call to action for industrial leaders and global partners to invest in the UAE's rapidly evolving manufacturing ecosystem. The discussions reaffirmed the critical role of trade and investment in the UAE's long-term industrial strategy and its rising status on the global industrial map. Follow Emirates 24|7 on Google News.
The National
15-05-2025
- Business
- The National
Trump's visit signals 'new heights' for trade partnerships with UAE, say ministers
Strong trade partnerships are set to soar with US President Donald Trump's first visit to the UAE. Mr Trump is in Abu Dhabi for two days on the final leg of a milestone tour of the Gulf – his first overseas visit since he took office in January. The UAE government has said the presidential visit strengthens the strategic partnership and reflects a commitment on both sides to build on long-term economic relations. 'The UAE and the United States share historical and strategic relations built on friendship and mutual understanding,' Abdulla bin Touq, Minister of Economy, told state news agency Wam. 'The visit reinforces the UAE's position as an influential global economic hub and supports the achievement of sustainable economic and social development.' He said the visit reflected the UAE leadership's vision to strengthen partnerships with the US. Trade is high on the agenda of the two-day visit to Abu Dhabi with announcements expected to cover investments in clean energy, artificial intelligence, sustainable industrial development and advanced technology. Dr Thani Al Zeyoudi, Minister of State for Foreign Trade, spoke of efforts to boost trade ties further and grow the partnership to scale new heights of prosperity. 'The United States is a close partner and friend to the United Arab Emirates and we look forward to further strengthening our bilateral trade relations and ensuring that our shared path of prosperity continues by promoting the smooth flow of goods, services, and capital necessary to stimulate shared economic growth,' he said. The US is the UAE's largest trading partner outside Asia and the sixth largest globally accounting for 4 per cent of the UAE's non-oil trade that reached $32.8 billion last year. More than 1,800 US companies have set up in the UAE, according to the UAE Chamber of Commerce and Industry that anticipates a rise in the businesses keen on expanding to the Emirates. More than 115 UAE companies operate in the US in health care, technology, tourism, aviation, AI and hospitality. The UAE has investments in the US estimated at about $1 trillion in sectors across aviation, manufacturing, energy, advanced technology, and artificial intelligence. Both countries also work closely to strengthen regional and global security along with economic prosperity.
Jordan Times
13-05-2025
- Business
- Jordan Times
Irbid chamber commerce, Turkish ambassador discuss cooperation
President of the Irbid Chamber of Commerce Mohammad Shouha and members of the board of directors on Sunday receive Turkish Ambassador to Jordan Yakup Caymazoglu (Petra photo) AMMAN — President of the Irbid Chamber of Commerce Mohammad Shouha and members of the board of directors on Sunday received Turkish Ambassador to Jordan Yakup Caymazoglu, as part of ongoing efforts to strengthen economic and cultural cooperation between the two countries. The ambassador was accompanied by Director of the Yunus Emre Turkish Cultural Centre Ansar Fırat and Commercial Attaché Mehmet Ural, the Jordan News Agency, Petra, reported. The visit aimed to deepen bilateral ties and explore opportunities that benefit the business community in Irbid Governorate. Shouha welcomed the Turkish delegation, commending the long-standing relationship between Jordan and Turkey. He also stressed the importance of enhancing trade partnerships and promoting exchange between business leaders from both countries. Shouha also highlighted Irbid's strategic economic role as Jordan's northern gateway, noting its advantageous location and robust local and regional economic networks, making it an attractive hub for investment and commerce. Both sides also discussed challenges facing trade and investment, including customs procedures, transportation logistics and licensing requirements. They also underscored the need to strengthen cooperation in tourism, education and cultural exchange. The discussion also focused on regional political challenges and their impact on economic stability, emphasising the importance of regional cooperation and economic integration to overcome geopolitical obstacles. Ambassador Caymazoglu reaffirmed Turkey's commitment to expanding joint initiatives, particularly in northern Jordan, and increasing the presence of Turkish products and expertise in the local market. Ansar Fırat expressed the Yunus Emre Cultural Centre's readiness to expand its cultural programmes in Irbid in cooperation with local institutions, seeing this as a means to foster mutual understanding and strengthen people-to-people ties. Ural stressed the need to establish direct communication channels between Jordanian and Turkish business communities and to provide the necessary facilitations to boost trade exchange and mutual benefits.
Reuters
12-05-2025
- Business
- Reuters
China hosts Latin American, Caribbean nations amid US trade war talks
BEIJING, May 12 (Reuters) - China will host a summit that includes its key Latin American trade partners this week in an effort to advance influence and partnerships in the region, as Beijing and Washington try to defuse their trade war. Latin American and Caribbean officials including the presidents of Brazil, Colombia and Chile are set to attend the China-CELAC Forum ministerial meeting in Beijing on Tuesday. Bilateral trade with the bloc was worth $427 billion from January to September 2024, according to Chinese data. China's President Xi Jinping will deliver a speech to the summit. The last time Xi addressed the forum was at the first of such meeting 10 years ago. The China-CELAC Forum challenges long-standing American geopolitical and economic dominance in the region, which the Trump administration has sought to counter, and takes place after a weekend of high-stakes trade talks between the U.S. and China that ended on a positive note. U.S. officials touted a "deal" to reduce the U.S. trade deficit, while Chinese officials said both had reached "important consensus" and agreed to launch another new economic dialogue forum. Both will release a joint statement on Monday. China has been trying to marshal a global coalition against what it called an "abuse of tariffs" by the United States. Since the world's two largest economies imposed steep tariffs well above 100% on each other's goods last month, China has reached out to Southeast Asia and Central Asia calling on its trade partners to hold the line against "unilateral bullying" and to uphold multilateralism. China also made progress on trade issues with the European Union, agreeing to discuss setting minimum prices on Chinese-made electric vehicles. The China-CELAC Forum, an intergovernmental cooperation platform between China and Latin American and Caribbean nations, has been a vehicle to deepen dialogue between China and the bloc over trade, investment and infrastructure cooperation under China's Belt and Road Initiative (BRI). Highlighting tensions between China and the U.S. in the region has been the Panama Canal, which U.S. President Donald Trump has threatened to take back. The U.S.-based BlackRock consortium's $23-billion deal to acquire Hong Kong-based CK Hutchison's port operations near the Panama Canal, which Trump hailed as "reclaiming" the waterway, triggered Beijing's concerns and prompted a regulatory review. China is the primary buyer of raw materials from Latin America, including copper, iron ore and minerals, but its trade with Brazil could feature this week. Co-inciding with the summit, Beijing will also welcome Brazilian President Luiz Inacio Lula da Silva's state visit on Tuesday. More than a dozen bilateral signings were expected. China is Brazil's largest export market by some length, a trade dominated by commodities like soybeans, iron ore and crude oil. Last year, China bought $37 billion worth of soybeans from Brazil, making it China's primary soybean supplier as the world's largest soybean buyer diversifies away from the United States. China resumed imports of Brazilian soybean shipments last week from five firms previously suspended over phytosanitary concerns. In a social media post, Chilean President Gabriel Boric confirmed attending the summit in Beijing and said he would meet Xi. The meeting could discuss business interests from Chinese firms in the world's No. 2 lithium producer after metals group Tsingshan said it remains keen on investment opportunities in Chile's downstream lithium sector. On other fronts, more infrastructure cooperation could be highlighted as the high-profile meeting paves a path towards the BRICS Summit to be hosted in Rio de Janeiro in July. Unlike Panama, which exited the BRI earlier this year, Colombia has ambitions to join China's flagship BRI programme, following the footsteps of Peru which BRI-linked Port of Chancay was inaugurated half a year ago to serve better maritime connectivity between China and South America.
