{"id":81103,"date":"2024-09-18T00:00:00","date_gmt":"2024-09-18T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2024\/09\/18\/uae-and-australia-finalize-the-terms-of-cepa-agreement\/"},"modified":"2024-09-18T00:00:00","modified_gmt":"2024-09-18T00:00:00","slug":"uae-and-australia-finalize-the-terms-of-cepa-agreement","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2024\/09\/18\/uae-and-australia-finalize-the-terms-of-cepa-agreement\/","title":{"rendered":"UAE and Australia finalize the terms of CEPA agreement"},"content":{"rendered":"

UAE, Australia to boost trade + investment: <\/strong>The UAE and Australia agreed the terms of a comprehensive economic partnership agreement to remove tariffs and trade barriers and facilitate investment in \u201cpriority sectors,\u201d UAE\u2019s Foreign Trade Minister Thani Al Zeyoudi said on X<\/a>. The trade agreement is the Australian labor government's first since taking office in May 2022, and Australia\u2019s first with a country in the MENA region, Australia\u2019s Trade Minister Don Farrell said in a statement<\/a>. <\/p>\n

The partnership targets Australian agriculture exports: <\/strong>The trade agreement will see tariffs removed on approximately 99% of Australian products. The agreement also reduces Australian import tariffs on furniture, copper wire, glass containers, and plastic products from the UAE.<\/p>\n

Australia's leading exports to the UAE include<\/strong> meat, dairy products, oilseeds, seafood, steel, nuts, honey, coal, chickpeas, and lentils. <\/p>\n

And investment in minerals:<\/strong> The agreement also includes provisions to ramp up Abu Dhabi\u2019s investment in Australia\u2019s critical minerals. The mining industry will also benefit from tariff reductions on alumina exports.<\/p>\n

The agreement is slated to take effect later this year<\/strong>, and is expected to boost Australian exports by AUD 678 mn (USD 458 mn) annually. <\/p>\n

Australia \u2764\ufe0fUAE for trade, investment: <\/strong>The UAE is Australia's largest trade and investment partner in the Middle East, with bilateral trade valued at AUD 9.9 bn (USD 6.37 bn) last year and two-way investment totaling AUD 20.6 bn (USD 13.17 bn). Bilateral non-oil trade reached USD 2.3 bn in 1H 2024, up 10% y-o-y.<\/p>\n

The story also got ink in <\/strong>Bloomberg<\/a><\/strong>.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

The marks the first CEPA for Australia in the MENA region<\/p>\n","protected":false},"author":1,"featured_media":81104,"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-81103","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-diplomacy","tag-diplomacy","tag-trade","tag-uae","wpautop","entry"],"acf":{"mongo_id":"87b99194-1dbb-4133-9d42-916efb6badd3","order":"7","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/9\/1411.jpg","photo_position":"above","homepage_title":"","full_issue_title":"UAE and Australia finalize the terms of CEPA agreement","related_issue":[81092],"teaser":"The marks the first CEPA for Australia in the MENA region","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/9\/.d1393fab-3453-430d-995b-0bf85f8e10e8.mp3"},"yoast_head":"\nUAE and Australia finalize the terms of CEPA agreement - 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