Skip to main content

Gabriel Boric in Emirates: UAE-Chile Cepa to significantly boost bilateral trade

During a recent official visit to the UAE, Gabriel Boric, President of Chile, and the UAE government signed a Comprehensive Economic Partnership Agreement (CEPA), aimed at enhancing bilateral economic collaboration. UAE President HH Sheikh Mohamed bin Zayed welcomed President Boric, and the two leaders discussed ways to strengthen cooperation across various sectors. High-level discussions were also held between President Boric and representatives of major Emirati companies.

UAE-Chile CEPA to Slash Customs Duties by 99.5%

This agreement is a key addition to the Gulf state's foreign trade program. Dr. Thani Al-Zeyoudi, UAE's Minister of State for Foreign Trade, and Alberto van Klaveren, Chile's Minister of Foreign Affairs, signed the deal during a formal ceremony. The CEPA aims to create significant opportunities by eliminating or reducing customs duties on 99.5% of the value of the UAE's imports from Chile. It will also enhance market access for services exports, remove unnecessary barriers, and facilitate investment.

Boosting Bilateral Trade

The UAE-Chile CEPA is expected to increase non-oil bilateral trade to $750 million by the end of the decade, more than doubling the $306 million recorded last year. It is also set to boost the value of UAE exports by $247 million by 2030.

Expanding Global Trade Access

UAE officials view the agreement as a major milestone in strategic cooperation, essential for the development of vital sectors. This partnership marks a new chapter in UAE's relations with an important region on the global economic map.

Dr. Thani Al-Zeyoudi praised the deal, stating that it brings together nations committed to developing open, market-based economies that leverage trade, talent, and technology for long-term prosperity. He highlighted Chile's potential in manufacturing, mining, financial services, renewable energy, tourism, and agriculture, emphasizing the shared belief in sustainable growth.

Historic Trade Agreement

Chilean Foreign Minister Alberto van Klaveren noted the significance of the UAE-Chile CEPA, marking Chile's first trade agreement with a Middle Eastern country. This deal is the second CEPA signed between the UAE and a South American nation this year, following a similar agreement with Colombia in April. The ongoing CEPA program is a crucial pillar of the UAE's economic diversification efforts.
Labels:

Comments

Post a Comment

Popular posts from this blog

Exposing the Brotherhood: Why Jordan’s Terror Cell Bust Must Spark a Global Policy Shift

 The recent dismantling of a Muslim Brotherhood-affiliated terror cell in Jordan should not be seen as just a national security success—it must be a turning point in how the international community views and responds to the threat posed by the Brotherhood. Jordanian security forces uncovered an elaborate network of terrorists trained in Lebanon and backed by foreign interests. Their mission: to launch attacks using rockets and drones, destabilizing the Kingdom and spreading fear among civilians. This is not the work of activists or political dissidents—this is terrorism, plain and simple. For too long, the Muslim Brotherhood has operated under a false image of moderation, cleverly navigating between political activism and violent extremism. But the truth is clear: the Brotherhood is the ideological engine room of jihadist terrorism. Its members, affiliates, and offshoots have inspired and directed acts of violence from North Africa to the Gulf—and now, once again, in Jordan. Govern...
Post a Comment
Read more

The Ritz-Carlton Residences in Diriyah: A Fusion of Heritage and Opulence

  The Ritz-Carlton Residences in Diriyah, known for its cultural and historical value, usher in a new age of opulent living. In the center of Diriyah, this partnership between the Diriyah Company and Marriott's Ritz-Carlton establishes a previously unheard-of benchmark for luxurious living. Inspired by the Najdi legacy, the houses offer occupants a distinctive and immersive cultural experience by skillfully fusing traditional charm with contemporary facilities. These villas prioritize well-being and create a pleasant environment for dynamic living. They are designed to adapt to varied tastes and lifestyles, with six unique layouts and a range of interior designs. Part of the Diriyah Company's ambitious development plan, The Ritz-Carlton Residences are located in the heart of Diriyah, a UNESCO World Heritage Site including At-Turaif as its focal point. The objectives of the Kingdom's Vision 2030 are perfectly aligned with this concept, which has over 20,000 residential units...
Post a Comment
Read more

UAE Introduces AI-Driven Drones for Crescent Moon Sighting

  For the first time in history, the UAE is employing artificial intelligence-powered drones to sight the crescent moon, signaling the start of Ramadan. This modernized approach blends technology with Islamic tradition, enhancing the reliability of moon sighting methods. Historically, the crescent moon has been identified through naked-eye sightings and advanced astronomical calculations. By incorporating AI-supported drones, the UAE is reinforcing its position as a leader in technological innovation while maintaining deep respect for religious customs. This method is backed by national research centers and astronomical observatories, ensuring precision and credibility in determining the start of Ramadan. Ramadan is a sacred month in Islam, marked by fasting from dawn to dusk. Suhoor, the early morning meal, and Iftar, the evening meal that breaks the fast, hold great importance during this period. The holy month is also a time of increased charitable giving, with many Muslims part...
Post a Comment
Read more