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10/17/24, 5:13 PM UAE-Serbia CEPA expected to add $351 million to GDP by 2032: Al Zeyoudi - ARN News Centre- Trending News, Sports News, B…

UAE-Serbia CEPA expected to add $351

million to GDP by 2032: Al Zeyoudi

News Home More from Business Sunday, 6 October 2024 11:29

By ARN News Staff

@mohamedbinzayed
The Comprehensive Economic Partnership Agreement (CEPA) between the UAE and Serbia is the first with a
country that is not a member of the World Trade Organisation, Dr. Thani bin Ahmed Al Zeyoudi, Minister of

State for Foreign Trade has said.

The agreement features a tariff reduction and elimination of up to 96 per cent across customs tariff lines, compared
to some countries with which agreements have been signed, all of which are WTO members.

The initiative comes in light of the significant potential to increase non-oil trade between the two countries, Dr. Al
Zeyoudi told the Emirates News Agency (WAM) following the exchange of the CEPA.

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

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