UAE, 15 January, 2025 : The UAE has signed Comprehensive Economic Partnership Agreements (CEPAs) with Malaysia, Kenya, and New Zealand, marking a key step in its efforts to diversify its economy and strengthen global trade ties.
Since 2021, the UAE has pursued bilateral trade deals to reduce its reliance on fossil fuels and boost long-term growth. Trade Minister Thani Al Zeyoudi emphasized the importance of liberalization for economic growth, supply chain support, and ensuring smooth trade flows.
The Malaysia agreement includes potential investments in data centers, artificial intelligence, logistics, food security, and pharmaceuticals. Trade between the two countries reached $4.9 billion in 2023.
Kenya is positioned as a gateway for UAE trade into East Africa, with plans for broader agreements with the region to follow.
The UAE-New Zealand deal will eliminate duties on 98.5% of New Zealand’s exports, increasing to 99% within three years.
Looking ahead, Al Zeyoudi announced plans to initiate bilateral trade talks with the European Union in 2025, highlighting the UAE's strategy to advance economic and political goals swiftly through focused negotiations.
Source : www.zawya.comRelated Posts
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