Page 660 - MOE ENGLISH PR REPORT - OCTOBER 2024

UAE-Serbia CEPA expected to add $351 million to

UAE's GDP by 2032: Al Zeyoudi

5 Oct 2024 20:13

ABU DHABI (WAM)

Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, affirmed that the
Comprehensive Economic Partnership Agreement (CEPA) between the UAE and the Republic of
Serbia marks the first agreement under the UAE's comprehensive economic partnership
programme with a country that is not a member of the World Trade Organisation.

This agreement features a tariff reduction and elimination of up to 96 percent across customs tariff
lines, compared to some countries with which agreements have been signed, all of which are WTO
members. This initiative comes in light of the significant potential to increase non-oil trade between
the two friendly countries, Dr. Al Zeyoudi told the Emirates News Agency (WAM) following the
exchange of the CEPA between the two countries.

Dr. Al Zeyoudi said the agreement constitutes a vital bridge to the Balkans and the Southeast
Europe with great economic potential, adding that it reflects the common ambition between the
UAE and Serbia and contributes to launching a new era of bilateral cooperation and stimulating
sustainable growth of the economies of both countries.

He noted that the agreement aims to stimulate trade and investment flows between the two
countries, bolster cooperation, and build private sector partnerships in both friendly countries. It
also seeks to empower business communities, promote investment, and facilitate knowledge

https://en.aletihad.ae/news/business/4520035/uae-serbia-cepa-expected-to-add--351-million-to-
uae-s-gdp-by