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Press Release

H.E. Bin Touq & his Chilean counterpart explore means to

strengthen collaboration in new economy, tourism, aviation,
entrepreneurship, technology & e-commerce

H.E. bin Touq: Chile is a valuable economic partner for the UAE in South
America and we are keen to elevate these relations to new heights

Abu Dhabi, 30 July 2024:

H.E. Abdulla bin Touq Al Marri, Minister of Economy, held a bilateral meeting with H.E. Nicolás
Grau, the Minister of Economy, Development, and Tourism of Chile, to explore new avenues to
strengthen economic ties between the two countries in the fields of new economy, tourism,
aviation, entrepreneurship, e-commerce, renewable energy, technology, and agriculture.

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