Page 212 - MOE ENGLISH PR REPORT - SEPTEMBER 2024 (Part 1)

9/29/24, 5:44 PM UAE, New Zealand to enhance trade and investment relations - GulfToday
Australia has long been a valued partner for the UAE. This CEPA will unlock significant
opportunities for UAE businesses and provide Australian companies with a gateway to new
markets across the Mena region.”

Foreign trade remains the cornerstone of the UAE’s economic agenda. In 2023, the UAE’s
non-oil trade in goods reached an all-time high of $712 billion, a 14.3 per cent increase
compared to 2022 - and 36.8 per cent more than 2021. A CEPA with Australia will be a
significant addition to the UAE’s foreign trade network, which is helping to propel non-oil
foreign trade towards its target of Dhs4 trillion ($1.1 trillion) by 2031.

Australia said it had reached a trade deal with the United Arab Emirates that would remove
tariffs for about 99 per cent of Australian products, and result in savings of A$135 million ($91
million) in the first year.

https://www.gulftoday.ae/business/2024/09/26/uae-new-zealand-to-enhance-trade-and-investment-relations 3/3