{"id":80041,"date":"2024-07-30T00:00:00","date_gmt":"2024-07-30T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2024\/07\/30\/uae-and-chile-sign-cepa-to-bolster-trade-relations\/"},"modified":"2024-07-30T00:00:00","modified_gmt":"2024-07-30T00:00:00","slug":"uae-and-chile-sign-cepa-to-bolster-trade-relations","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2024\/07\/30\/uae-and-chile-sign-cepa-to-bolster-trade-relations\/","title":{"rendered":"UAE and Chile sign CEPA to bolster trade relations"},"content":{"rendered":"

The UAE and Chile inked an economic partnership <\/strong>yesterday aimed at boosting bilateral investments and private sector partnerships, as well as trade between the countries, Wam<\/a> reports. The agreement marks the UAE\u2019s second economic partnership with a South American country following the agreement signed with Colombia in April. <\/p>\n

The agreement will eliminate tariffs for 99.5% of UAE imports from Chile,<\/strong> paving the way to achieve the countries\u2019 target of doubling non-oil trade to USD 750 mn by 2030, up from USD 306 mn last year, <\/span>Wam<\/a> wrote. UAE exports to Chile are projected to rise by USD 247 mn by the end of the decade, according to UAE estimates.<\/span><\/p>\n

Background: <\/strong>Foreign Trade Minister Thani bin Ahmed Al Zeyoudi and Chile\u2019s Foreign Minister Alberto van Klaveren concluded negotiations on the trade and economic agreement between the two countries last April<\/a>.<\/p>\n

Not a first for the UAE: <\/strong>This agreement is the UAE\u2019s second recent CEPA with a South American country. The Gulf country signed a CEPA with Colombia in April 2023<\/a> to eliminate or reduce tariffs in multiple supply chains as well as remove trade barriers and enhance market access in sectors including energy, telecommunications, tourism, and food production.<\/p>\n

REMEMBER- <\/strong>The UAE is in talks with Japan and Malaysia to finalize the terms of bilateral trade agreements, with up to seven pacts set to be inked before year-end, in addition to seven more agreements pending final ratification, Al Zeyoudi said<\/a> earlier this month. This month alone, the UAE formalized its trade pact with Mauritius, and concluded negotiations with Morocco<\/a> on the terms of the agreement.<\/p>\n","protected":false},"excerpt":{"rendered":"

This marks UAE\u2019s second CEPA agreement with a South American nation<\/p>\n","protected":false},"author":1,"featured_media":80042,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[53],"tags":[52,32,129],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-80041","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-diplomacy","tag-diplomacy","tag-trade","tag-uae","wpautop","entry"],"acf":{"mongo_id":"2b217415-4e9e-4bb9-8d30-f3dddbebc928","order":"9","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/7\/2454.jpg","photo_position":"above","homepage_title":"","full_issue_title":"UAE and Chile sign CEPA to bolster trade relations","related_issue":[80026],"teaser":"This marks UAE\u2019s second CEPA agreement with a South American nation","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/8\/.94d270f3-26ac-40b3-be0c-1828b30dbb55.mp3"},"yoast_head":"\nUAE and Chile sign CEPA to bolster trade relations - 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