The UAE and the European Union explore the mechanisms of upgrading commercial and investment relations
Brussels, July 22/ WAM/ His Excellency Dr. Thani bin Ahmed Al -Zyoudi, Minister of Foreign Trade, met in the Belgian capital, Brussels, His Excellency Marush Shevchevic, Commissioner of Trade to the European Union, to explore the mechanisms of upgrading trade and investment relations between the UAE and the European Union by focusing on promising strategic sectors.
During the meeting, the latest developments in the negotiations aimed at reaching a comprehensive economic partnership agreement were discussed, after the first round of discussions held at the end of last June and early July.
In light of the common will to continue strengthening relations between the UAE and the European Union, the comprehensive economic partnership agreement is expected to play a vital role in upgrading commercial and investment partnership to new horizons, by providing more opportunities for the private sector in both sides, and advancing joint economic growth.
The two ministers expressed their optimism about the progress and the potential benefits of the agreement.
His Excellency Dr. Thani Al -Zyoudi said that the continuous dialogue with the European Union is essential to keeping pace with the sophisticated scene of global trade, and the European Union is a commercial and investment partner with high value for the UAE, which aims to deepen its relations in a number of strategic sectors.
He added that the continuous growth in non -oil -oil trade is in line with this trend, while continuing to explore the opportunities to build new partnerships in promising sectors such as energy transformation, advanced technology, and food security.
The visiting Emirati delegation included in Brussels, His Excellency Mohammed Al -Sahlawi, the UAE ambassador to the Kingdom of Belgium, the European Union, and the Greater Luxembourg Duchs, and His Excellency Juma Muhammad Al -Kate, the assistant undersecretary of the Ministry of Foreign Trade.
The UAE and the European Union have prosperous commercial relations. In 2024, the volume of non -oil intra -trade reached $ 67 billion, an increase of 2.4% over the previous year, and the European Union continued to maintain its position as the second largest commercial partner of the UAE globally with a share of 8.3% of its total non -oil trade.
It should be noted that the UAE continues to expand its network of commercial and investment partners around the world through the comprehensive economic partnership agreements program, which is a basic pillar to double the value of its non -oil foreign trade.
By consolidating trade relations with major partners such as the European Union, the state aims to improve access to global markets and stimulate sustainable economic development.
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