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7/30/24, 3:32 PM UAE, Chile Sign Comprehensive Economic Partnership Agreement In Abu Dhabi

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UAE, Chile Sign Comprehensive Economic
Partnership Agreement In Abu Dhabi

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7/29/2024 3:06:09 PM

(MENAFN- Kuwait News Agency (KUNA)) ABU DHABI, July 29 (KUNA) -- In the presence of
UAE President sheikh Mohammad bin Zayed Al-Nahyan and Chilean President Gabriel Boric,
the two nations signed on Monday a Comprehensive Economic Partnership Agreement
(CEPA) during President Boric's official visit in Abu Dhabi.
This agreement is set to pave the way for deeper economic collaboration between the two
nations, said Emirates News Agency (WAM), explaining that the UAE-Chile CEPA is projected
to increase non-oil bilateral trade to USD 750 million by 2030, doubling the USD 306 million
shared in 2023.
The deal will create a range of new opportunities by eliminating or reducing customs duties
covering 99.5 percent of the value of UAE's imports from Chile, opening market access to
services exports, removing unnecessary barriers to trade, and facilitating investment and joint
ventures, said WAM.
The Emirati President commented on the signing of the deal, saying that the UAE is keen on
expanding its economic partnerships around the world through the CEPA program, which aims
at incentivizing diverse and sustainable economic growth, WAM reported.
On his part, the Chilean President welcomed the signing of the CEPA deal between his nation
and the UAE, saying that it is a step of great significance in this bilateral relationship that
dawned in 1979, and that it will contribute to intensifying and diversifying resources.
This CEPA deal, signed by the UAE's Minister of State for Foreign Trade Dr Thani Al-Zeyoudi
and Chile's Foreign Minister Alberto van Klaveren at Abu Dhabi's Qasr Al-Watan, is the second

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