Page 426 - MOE ENGLISH PR REPORT - JULY 2024

7/23/24, 11:23 AM UAE ministers and officials emphasize the importance of the Comprehensive Economic Partnership agreement with Mauritius
His Excellency Sheikh Shakhboot bin Nahyan Al Nahyan, Minister of State, said: “The Comprehensive
Economic Partnership Agreement between the UAE and the Republic of Mauritius is an important
milestone in our bilateral relations. Similar to the UAE, Mauritius has leveraged its strategic location
between two continents to become a vibrant business and logistics hub. This CEPA will propel trade

volumes to new heights and solidify the status of Mauritius as a global gateway to Africa. Furthermore, it
will drive essential investment into key sectors of the Mauritian economy, in particular energy, mining,
agriculture, and tourism, and ensure its financial system is built upon strong and sustainable

foundations.”

H.E. Sheikh Shakhboot added: “The UAE’s latest Comprehensive Economic Partnership Agreement
with Mauritius – the first the UAE has signed with a country in Africa – reflects our commitment to
deepening our ties with Africa, a fast-growing continent that will be key to the world’s green energy and
food security agendas in the decades to come.”

H.E. stated: “The UAE has strengthened its international partnerships over the past five decades and

continues to build economic competitiveness and sustainability. The objective is to become an
international capital of investment and economic innovation, fostering development opportunities by
signing comprehensive partnership agreements (CEPAs) with active economies.”

H.E. underlined that “The UAE has signed CEPAs with strategic partners and as part of its long-term

strategy to diversify its economic ties and develop strong international partnerships in trading, industry,
and investment, to create more opportunities for the people of the region to achieve vital economic
development.”

His Excellency Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, stated: “The UAE
remains firm in its belief that trade is the key to long-term, sustainable growth as well as the continued

diversification of our economy. It is why we are seeking to increase the value of our non-oil foreign trade
to AED 4 trillion by 2031, almost double the AED 2.23 trillion we recorded in 2022. Our Comprehensive
Economic Partnership Agreement program is a central component of this mission, creating a new

network of trading partners across the world that will enable us to establish new market opportunities for
our exporters, increase the flow of goods into our ports and industrial zones, create new avenues for
investment and benefit from the latest innovations and ideas from the global economy.”

His Excellency 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.”

His Excellency Ahmed Ali Al Sayegh, Minister of State, remarked: “The UAE-Mauritius Comprehensive
Economic Partnership Agreement is a significant addition to our CEPA program, which was a major

component of the ‘Projects of the 50’, launched in September 2021 to strengthen the UAE's position as a

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