UAE inks first CEPA agreement with African nation: The UAE has signed a comprehensive economic partnership agreement (CEPA) with Mauritius, Wam reports. The agreement will eliminate tariffs on 99% of UAE imports to Mauritius and 97% on incoming Mauritian imports, making it the first of its kind to be signed between the UAE and an African country.

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More investments in logistics and trade? The agreement will also make way for investment into priority sectors such as logistics, manufacturing, tourism, and financial and professional services in Mauritius, UAE Economy Minister Abdullah bin Touq Al Marri said, adding that there will be agreements in the upcoming “weeks and months” ahead.

The pact will boost the UAE’s trade with Africa and the Far East, with India, Mauritius, and the UAE — all of which have trade agreements in place with one another — set to work on joint projects, UAE’s Minister of State for Foreign Trade Thani Al Zeyoudi.told Bloomberg.

And there’s more to come: The UAE is in talks with Japan and Malaysia to finalize the terms of bilateral trade agreements, with up to seven other pacts set to be inked before year-end, in addition to seven more agreements pending final ratification, Al Zeyoudi told CNBC Arabia (watch, runtime: 3:59). Al Zeyoudi also revealed that the trade pact with South Korea is slated to enter into force by 1Q 2025, pending final signing from the Korean side.

The UAE is also hoping to reactivate both bilateral and GCC-level trade talks with the EU by the end of the year, Al Zeyoudi told Reuters. A trade zone agreement with the Eurasian Economic Union could also be finalized before year’s end, he added.

REMEMBER- Reuters reported earlier this year that the UAE is nudging the EU towards a bilateral trade pact “separate from an Arab bloc,” due to slow trade negotiations between the Union and the GCC.

OTHER DIPLO STORIES WORTH KNOWING THIS MORNING-

  • UAE + China ink air transport MoU: The UAE’s General CIvil Aviation Authority (GCAA) has inked an MoU with China’s Civil Aviation Authority (CAAC) to boost connectivity between the airports of the two countries. Under the MoU, the pair will exchange expertise in areas of aviation safety, security, and air transport, says the news outlet. (Wam)
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