Page 117 - MOE ENGLISH PR REPORT - JULY 2024

7/31/24, 3:34 PM UAE: Bin Touq, Chilean counterpart explore means to strengthen collaboration

Bin Touq emphasised the UAE’s robust and expanding economic relations with the Republic of Chile,

highlighting that the two countries have successfully forged sustainable and diverse partnerships and
agreements across various economic and investment domains.

The meeting highlighted the significance of signing the Comprehensive Economic Partnership
Agreement (CEPA) between the UAE and Chile as a major step towards strengthening the existing

economic cooperation in various sectors. The primary objective of the agreement is to enhance
investment flows, create opportunities, expand trade, and encourage partnerships at the private sector
level. Furthermore, it will streamline the access of companies from both countries to promising markets
and opportunities in Asia and South America.

Bin Touq said, “We consider the Republic of Chile as a valuable economic partner for the UAE in South
America, as it boasts a favourable investment environment. We look forward to elevating our economic
relations to new heights at both government and private sector levels, as well as exploring promising

opportunities in sectors and areas of mutual interest.”

The discussions focused on the significance of strengthening collaborative efforts to introduce new
programs for small and medium-sized projects in both markets. The two ministers agreed on the
importance of empowering the SMEs sector and facilitating the entry of their exports to foreign markets.
Furthermore, they highlighted the importance of enabling Chilean entrepreneurs and startups to

leverage the unique advantages and enablers offered by the UAE’s business environment.

The two sides discussed mechanisms to enhance bilateral cooperation in various tourism sub-sectors
and activities, especially travel and aviation, during the next phase. It also discussed the prospects for
launching joint tourism initiatives aimed at promoting the prominent tourism attractions and historical

sites in both countries, thus leveraging the diverse tourism capabilities of both markets.

In addition, the discussions highlighted the importance of enhancing dialogue between delegations and
trade missions from both nations in the next stage. This will help in keeping them updated on the latest
economic policies and legislation developed by each side.

Bin Touq invited his Chilean counterpart to attend and actively participate in the fourth edition of

Investopia, scheduled to be held in February 2025. The event presents a valuable opportunity to discuss
strategies for capitalising on the promising prospects offered by the UAE to investors from across the
globe, as well as fostering collaboration across various economic domains.

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