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5/1/24, 3:36 PM UAE, Ukraine clear CEPA terms to elevate non-oil foreign trade - GulfToday
of negotiations and reaching out the CEPA final provisions between the two
sides.
This agreement marks a significant milestone within the UAE’s CEPA
programme, which aims to raise the value of the country’s non-oil foreign trade
to Dhs4 trillion by 2031.
The non-oil trade between the UAE and Chile amounted to $305.1 million in
2023, representing a remarkable growth of 23.6 per cent since 2019.
Dr Al Zeyoudi welcomed the successful conclusion of the talks, stressing that
the agreement will open up access for UAE companies and exporters to the
fast-growing economies of Chile and Latin America.
He commented, “Chile is an ideal partner within the CEPA programme being
implemented by the UAE. This partnership will foster sustainable and mutually
beneficial growth in trade of goods and services, investment, and economic
cooperation.
BRICS Sherpa meeting: Saeed Mubarak Al-Hajeri, Assistant Minister for
Economic and Trade Affairs at the Ministry of Foreign Affairs, and the UAE’s
Sherpa of BRICS, participated in the second Sherpa meeting of the BRICS
group, which was held in Moscow, Russia.
The meeting highlighted ways of reinforcing the integration of new members
into the group.
On the sidelines of the meeting, the UAE delegation held several bilateral
discussions with representatives from the Russian Federation, India, Ethiopia,
China, Brazil, and South Africa. The meetings explored bilateral ties and
prospects of cooperation within the BRICS framework.
Notably, the UAE received an invitation to join BRICS in August 2023, and has
officially joined the group as a full member at the start of this year, along with
the Arab Republic of Egypt, the Islamic Republic of Iran, and the Federal
Democratic Republic of Ethiopia. The BRICS group include Brazil, Russia,
India, China, and South Africa, as its original members.
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