The UAE and Thailand agree to launch CEPA negotiations

  

UAE

The United Arab Emirates (UAE) and Thailand have signed a joint statement to launch talks to establish a Comprehensive Economic Partnership Agreement (CEPA) between both countries.

Thani bin Ahmed Al Zeyoudi, the Minister of State for Foreign Trade of the United Arab Emirates and Jurin Laksanawisit, the Minister of Commerce of Thailand, signed the statement to launch talks about CEPA in order to promote trade between both nations.

The first round of negotiations between the UAE and Thailand will take place in the UAE on May 16. Thani Al Zeyoudi has expressed hope that the CEPA would underline UAE’s role as a key enabler in global trade and business.

The two countries launched the first UAE-Thai BusinessCouncil in February 2023. CEPA would increase the existing trade and economic ties between the two countries to new heights.

Al Zeyoudi reportedly said, “Thailand is an increasingly important trade and investment partner for the UAE. We believe a Comprehensive Economic Partnership Agreement will deliver a wealth of opportunity in various sectors like tourism, food security, IT, logistics and financial services. These negotiations represent another important step in our growth agenda and underline our role as a key enabler of global trade.”

The UAE has already established CEPA with India, Israel, Indonesia and Turkey. The CEPA between the UAE and India has already come into force. This year, the UAE and Vietnam signed a joint declaration of intent to start their talks on launching the CEPA.

Al Zeyoudi and Nguyen Hong Dien, the Minister of Industry and Trade of Vietnam signed the mutual declaration of intent document in April to launch CEPA talks. Al Zeyoudi said, “The UAE is Vietnam’s number one Arab trade partner, accounting for 39% of its total trade with the Arab countries.” The two leaders also discussed bilateral relations between the UAE and Thailand.

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