Page 133 - MOE ENGLISH PR REPORT - JULY 2024

7/31/24, 3:36 PM H.E. Bin Touq & His Chilean Counterpart Explore Means To Strengthen Collaboration In New Economy, Tourism, Aviation, Entrepre…
H.E. Bin Touq emphasized 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.

H.E. 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.

H.E. 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 capitalizing 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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