Page 424 - MOE ENGLISH PR - APRIL 2024

4/26/24, 11:10 AM UAE and Chile successfully concludes CEPA negotiations
successful conclusion 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 AED4 trillion by 2031.

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The non-oil trade between the UAE and Chile amounted to US$305.1 million in 2023,

representing a remarkable growth of 23.6% 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.

He added, "With the agreement's signing, the private sectors in both countries will benefit

from vital new trade links between South America and the Middle East. These two regions
represent dynamic and growing markets with a population of over 800 million."

For his part, Alberto van Klaveren remarked, "We view the conclusion of CEPA

negotiations as a remarkable achievement within our distinguished relationship with the
UAE, sharing a vision for open and rules-based trade.

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