Page 765 - MOE ENGLISH PR REPORT - OCTOBER 2024

continent accounts for 59 percent of the UAE’s total global trade, and receives 72.7 percent of its
exports.

He also noted the upward trajectory of those numbers, with non-oil trade between the UAE and the
rest of Asia totaling US$224 billion in the first half of 2024, an increase of 31 percent in the last two
years.

Al Zeyoudi also underscored the strategic importance of the UAE’s Comprehensive Economic
Partnership Agreement (CEPA) programme in boosting trade flows with the region. Of the 13 CEPAs
the UAE has successfully concluded since May 2022, 8 are with nations in Asia or the Asia-Pacific
region.
Al Zeyoudi stated, “In an increasingly complex global economy, the importance of collaboration
with your closest neighbours will only grow. This is particularly true with Asia, where more than 60
percent of the goods made within the continent stay within the continent. For the UAE’s global trade
strategy, Asia represents secure, reliable supply chains and mature, high-growth markets that will
provide a range of opportunities for our private sector. These include outstanding prospects for
investment as we seek partnerships in manufacturing, agriculture and energy, and support our
respective economic growth and development objectives. This week’s forum will play an important
role in advancing all of these objectives.”

During the forum, Al Zeyoudi held productive bilateral meetings with key officials from several Asian
nations. These included talks with Arju Rana Deuba, Minister of Foreign Affairs of Nepal; Pichai
Naripthaphan, Minister of Commerce of Thailand; Ihsaan Afzal Khan, Coordinator of the Prime
Minister of Pakistan; and Zogi Zadeh Zogi Amin, Minister of Economic Development and Trade of
Tajikistan.

Reflecting on the summit’s theme of “Artificial Intelligence and New Business Models, Al Zeyoudi
said, “The UAE is committed to harnessing advanced technologies to enhance the efficiency and
accessibility of global supply chains. Through our CEPA programme, we have been able to
champion the potential of digitised trade with Asian nations, and we will continue to work with our
CEPA partners to create the technical and regulatory frameworks to modernise the exchange of
goods and services between us.”

The Asia Cooperation Dialogue (ACD) was established in 2002, It is a pan-Asian forum that fosters
cooperation among Asian countries in various fields, including trade, technology, and sustainable
development.

KN

https://www.wam.ae/article/b5hwu46-thani-zeyoudi-highlights-role-intra-regional