Page 215 - MOE ENGLISH PR REPORT - SEPTEMBER 2024 (Part 1)

9/29/24, 5:44 PM UAE and New Zealand conclude Cepa talks to boost economic ties | The National
The UAE is aiming to sign 26 Cepas, with deals reached

with India, Turkey, Israel, Indonesia, Cambodia, Georgia, South Korea, Chile and

Mauritius. Talks are under way with other countries, including Serbia and the Philippines.

Cepas are expected to add about 2.6 per cent to the UAE's economy by 2030, Dr Al
Zeyoudi previously said.

In the first half of this year, the country’s non-oil foreign trade hit a record Dh1.4 trillion

($381.21 billion), up 11.2 per cent on an annual basis amid a 25 per cent surge in non-oil

exports on new Cepas, the UAE Government Media Office said last month.

The UAE’s non-oil exports to its top 10 trade partners grew by 28.7 per cent during the
period, while with all other nations it recorded a 12.6 per cent increase.

The country, as part of its national economic goals, is pursuing the aim of Dh4 trillion in

foreign trade by 2031.

The new Cepas are also supporting the UAE's economy, which is expected to grow by 4

per cent this year, up from the previous estimate of 3.9 per cent in June, according to the

latest report by the UAE Central Bank.

In the first quarter, the country's economy expanded by 3.4 per cent, with real gross

domestic product reaching Dh430 billion, the Ministry of Economy said this month.

The non-oil sector expanded by 4 per cent year on year during the quarter.

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