Page 215 - MOE ENGLISH PR REPORT - JULY 2024

global hub for economy, trade, and industry. It aligns with the UAE's goal of enhancing the
contribution of various sectors to the GDP, targeting a GDP of Dh 3 trillion by the next decade, in
accordance with the "We the UAE 2031" vision.

This agreement is expected to forge a strong commercial and investment partnership with Chile,
opening new opportunities for companies and investors from both nations. It will also support
collaboration in essential sectors like clean energy, environmental sustainability, and food
security.

Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs, said, "The Comprehensive
Economic Partnership Agreement between the UAE and Chile represents a significant
advancement in our bilateral relations, underlining our commitment to fostering economic
growth and international cooperation. Chile’s well-regulated financial markets, supported by
strong fiscal policy and liquidity from the Central Bank, offer confidence and clarity to UAE
businesses and investors. This agreement is poised to create an optimal environment for cross-
border exchange and collaboration."

Suhail bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure, stated, "Chile has
become an essential partner in our energy transition plans. This agreement will accelerate our
progress in clean and renewable energy technologies, policy best practices, and smart grid
development. Chile’s leadership in wind and geothermal power offers an excellent opportunity
for deeper engagement as we aim to establish ourselves as champions of renewable energy."

Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, said, "The
agreement with Chile is crucial for our strategy to diversify our economy, enhance industrial
capabilities, and boost non-oil exports. Chile’s growing manufacturing sector presents rich
opportunities for UAE investors and exporters. This partnership will facilitate industrial
development and export facilitation to key markets in the Middle East, Asia, and Africa."

Abdullah bin Touq Al Marri, Minister of Economy, added, "Expanding our foreign trade network is
central to achieving sustainable economic growth and reaching a national GDP of Dh 3 trillion
by the next decade. The agreement with Chile is a significant milestone, promoting dynamic
trade and investment in sectors like manufacturing, financial services, energy, tourism, and
agriculture."

Dr. Amna bint Abdullah Al Dahak, Minister of Climate Change and Environment, noted, "This
agreement is a critical addition to our foreign trade agenda, reinforcing our commitment to
environmental sustainability and food security. Chile’s focus on sustainable finance and climate
adaptation strategies will inform and inspire our efforts towards achieving carbon neutrality by
2050."

Mohammed bin Hassan Al Suwaidi, Minister of Investment, highlighted, "The UAE’s programme
for comprehensive economic partnerships is opening new avenues for global investment,
easing capital flows, and identifying high-potential projects. The agreement with Chile will spur
investment in renewable energy, technology, agriculture, and infrastructure, supporting long-
term growth for both nations."

https://en.aletihad.ae/news/uae/4503695/cepa-between-uae--chile-marks-significant-milestone-
in-strat