UAE-Chile CEPA takes effect: The trade and economic partnership agreement (CEPA) between the UAE and Chile entered into effect this week, state news agency Wam reports. The agreement will eliminate tariffs for 99.5% of UAE imports from Chile, paving the way to achieve the countries’ target of doubling non-oil trade to USD 750 mn by 2030, up from USD 270 mn last year. The agreement focuses on bilateral trade and investment in renewable energy, agriculture, logistics, maritime, travel, tourism, infrastructure, and aviation.

DATA POINT- Bilateral non-oil foreign trade reached USD 153 mn in 1H 2025, a 7.1% y-o-y increase. Flows are projected to exceed USD 500 mn within five years.

REMEMBER- The UAE and Chile held negotiations on the trade and economic agreement in April 2024 and signed the pact a few months later in July.

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