Page 180 - MOE ENGLISH PR REPORT - DECEMBER 2024

UAE celebrates global reach of Cepa programme

The UAE has agreed trade agreements with countries and international blocs that account for a
quarter of the world’s population, the Emirates’ trade minister said.
The UAE has concluded 24 comprehensive economic partnership agreements (Cepa) since it
launched the programme more than three years ago, covering around 2.5 billion people.

A total of 15 Cepas have been signed – six are in force and nine are awaiting implementation.

The UAE has concluded negotiations on a further nine Cepas which are awaiting signing and
enforcement.
The programme aims to increase the country’s non-oil trade to $1 trillion in value by 2031 and double
the size of its economy to over $800 billion by 2030.

Dr Thani Al Zeyoudi, minister of state for foreign trade, said the UAE will continue to expand the
programme in 2025, targeting increased investments and encouraging trade opportunities in goods,
services and re-exporting.

In the first six months of this year, UAE foreign trade exceeded a record AED1.3 trillion ($379.85
billion), up 11.2 percent compared to the same period last year.

Al Zeyoudi said the agreements signed so far have increased the UAE’s business activity in logistics,
clean and renewable energy, technology, financial services, green industries, advanced materials,
agriculture and sustainable food systems.

The UAE’s Central Bank said the UAE increased its non-oil exports by 25 percent in the first half of the
year, thanks mainly to a 50 percent lift in gold and a 47 percent rise in jewellery compared with the
same period last year.
Iraq was the UAE’s top non-oil export partner, followed by India and Hong Kong.

The most exported non-oil goods were gold, jewellery and tobacco products.

Imports increased 11 percent. Again, gold topped the list followed by telecommunications
equipment and motor vehicles. The largest volume of imports came from China, India and the US.