UAE joins Brics trade talks + concludes negotiations on CEPA with Morocco

UAE Minister of State for Foreign Trade Thani bin Ahmed Al Zeyoudi signed a Joint Communique at the Brics Ministers’ Meeting, committing to strengthened cooperation in multilateral trade, joint value chains, agricultural trade, and special economic zones, Wam reports. The communique also focused on fostering e-commerce, supporting MSMEs through technology and exports, and integrating digital technologies like e-certification in global trade.

This was the UAE’s first participation in a Brics Trade Ministers’ Meeting since becoming a member in August 2023. The meeting also proposed a forum for cooperation on special economic zones and laid the groundwork for the upcoming BRICS Summit in Kazan, Russia.

The UAE + Morocco also wrapped trade talks: Foreign Trade Minister Thani bin Ahmed Al Zeyoudi and Morocco’s Minister of State for Foreign Trade Ryad Mezzour concluded negotiations on a comprehensive economic partnership agreement (CEPA) between the two countries, according to a separate Wam report.

The UAE-Morocco partnership will reduce or remove tariffs, improve market access, harmonize customs, and establish rules of origin for goods. It will also create investment and private-sector collaboration platforms in renewable energy, tourism, infrastructure, mining, food security, transport, logistics, and ICT.