Page 403 - MOE ENGLISH PR REPORT - JULY 2024

He added, “Our latest deal with Mauritius, a growth-oriented island nation strategically
located in the Indian Ocean, is another important achievement. By eliminating or
reducing tariffs, removing barriers to trade and enhancing market access, we will push
our bilateral non-oil trade beyond US$500 million within five years – and boost the
UAE’s GDP by 0.96 percent in the same period.”

Ahmed Ali Al Sayegh, Minister of State, remarked. “The UAE-Mauritius Comprehensive
Economic Partnership Agreement is a significant addition to our CEPA programme,
which was a major component of the ‘Projects of the 50’, launched in September 2021
to strengthen the UAE's position as a global trade, business and investment hub and
cement the country’s reputation as a champion of international cooperation and regional
stability.”

He added, “The agreement with Mauritius will deliver clear economic benefits to both
nations and also underpin the UAE’s efforts in supporting emerging nations leverage the
advantages of the global trading system as they pursue long-term, sustainable
development. This agreement will deliver a range of economic benefits to both countries
and we look forward to the increase in trade flows and investment projects it will now
create.”

Khaled Mohamed Balama, Governor of the Central Bank of the United Arab Emirates,
said, "The UAE continues to forge economic partnerships to achieve sustainable growth
and enhance prosperity and stability both regionally and globally.”
He added: “The Comprehensive Economic Partnership Agreement between the UAE
and the Republic of Mauritius is part of the UAE's efforts to strengthen international
cooperation, boost economic growth, increase trade exchange, provide more
investment opportunities, and stimulate and grow UAE exports by creating new sources
of added value. As a model of financial and monetary stability with an efficient and
resilient global financial system, the bilateral partnership agreement offers extensive
opportunities for both countries to enhance cooperation and joint work in the financial
services sector, as well as in trade and investment fields, ensuring mutual benefit for the
two friendly nations."

Ahmed Abdullah bin Lahej, Director-General of the Federal Customs Authority, said.
“The UAE has now become an integrated strategic trading hub and an important
destination on global supply chains. This is not only helping to drive growth and
economic diversification, it is ensuring we are taking a leadership role in global trade –
from innovation to governance. By reducing and removing tariffs and eliminating
unnecessary barriers to trade, our Comprehensive Economic Partnership Agreement
programme is another important component of our role as a trade facilitator. The latest
deal with Mauritius will offer substantial benefits to both nations, spurring a new era of

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