Chile: The UAE and Chile have finished talks on a Comprehensive Economic Partnership Agreement.
In a joint statement, Chile’s Minister of Foreign Affairs Alberto van Klaveren and Minister of State for Foreign Trade Dr. Thani bin Ahmed Al Zeyoudi announced the successful end of negotiations and reached an agreement on the final CEPA terms.
Within the framework of the UAE’s CEPA program, which intends to increase the value of the nation’s non-oil foreign trade to AED 4 trillion by 2031, this deal represents a key milestone.
The value of non-oil commerce between the United Arab Emirates and Chile was $305.1 million in 2023, a remarkable 23.6 percent increase from 2019.
Dr. Al Zeyoudi praised the successful conclusion of the negotiations and emphasized that the agreement will provide UAE exporters and businesses access to the rapidly expanding economies of Chile and Latin America.
The Minister commented that, “Chile is an ideal partner within the CEPA program being implemented by the UAE. This partnership will foster sustainable and mutually beneficial growth in trade of goods and services, investment, and economic cooperation.
Dr. Al Zeyoudi, “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.”
Alberto van Klaveren stated that, “We share a vision for open and rules-based trade, and we view the conclusion of CEPA negotiations as a remarkable achievement within our distinguished relationship with the UAE.”
“The agreement will add further momentum into our bilateral trade, while also generating boundless new opportunities for a more prosperous, modern, and dynamic economic relationship between Chile and the UAE,” he further noted.
A high-level group led by Dr. Al Zeyoudi signed CEPA agreements with Costa Rica and Colombia during his travel to Central and South America.