The Minister of Foreign Trade heads a high-level delegation to Egypt to negotiate the Comprehensive Economic Partnership Agreement
Abu Dhabi, December 29 / WAM / His Excellency Dr. Thani bin Ahmed Al Zeyoudi, Minister of Foreign Trade, headed a high-level government delegation to Egypt, within the framework of the ongoing negotiations to conclude the Comprehensive Economic Partnership Agreement between the two countries.
Al-Zeyoudi met with His Excellency Minister Hassan Al-Khatib, Minister of Investment and Foreign Trade of the Arab Republic of Egypt, to review the progress achieved by the technical teams from the two countries so far. The two ministers expressed their firm commitment to expanding and deepening their bilateral economic relations.
The technical teams worked on various chapters of the future Comprehensive Economic Partnership Agreement, focusing on vital points such as the rules of origin of products, regulations governing factories operating in free zones, trade in services, and digital trade. This meeting represents an important step towards enhancing economic cooperation between the UAE and Egypt.
Al-Zeyoudi said: “Investing in our relationship with Egypt is crucial for both countries. The Comprehensive Economic Partnership Agreement will usher in a new era of cooperation and coordination, achieving mutual benefits and paving the way for increased trade volume, investment flows, and sustainable economic growth.”
In 2024, the volume of non-oil trade between the UAE and Egypt will reach approximately $8.4 billion, registering a growth of 21% compared to the previous year. This strong trade relationship underscores the importance of the UAE as a major trading partner for Egypt in the GCC region and the Arab world in general. The Comprehensive Economic Partnership Agreement aims to build on this foundation by enhancing trade flows, private sector cooperation, and investment opportunities in various sectors, especially agriculture, manufacturing, and renewable energy.
The UAE Comprehensive Economic Partnership Agreements Program aims to strengthen economic and trade relations with countries around the world. Through this program, the UAE is working to expand its foreign trade and consolidate its position as a leading global trade center. With the signing of 31 comprehensive economic partnership agreements, and the entry into force of 14 of them, the program embodies the UAE’s commitment to diversifying its economy, and has played a decisive role in enhancing its access to high-growth markets, contributing significantly to the country’s total trade, which in 2024 reached a record level of $810 billion.
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