UAE wants to have free trade agreements with 103 nations

UAE

 According to the Ministry of Economy, the UAE plans to sign Comprehensive Economic Partnership Agreements (CEPA) with 22 nations and five economic blocs, covering 103 nations and accounting for up to 95% of world trade.

The UAE has already reached agreements with Indonesia, Israel, and Turkey after concluding the first Cepa with India on February 18, 2022, which went into effect on May 1, 2022. The next phase of trade agreement discussions with Chile, Vietnam, Ukraine, Kenya, Pakistan, and Thailand will shortly get under way.

The UAE is starting a new poll aimed at company owners, industrialists, and entrepreneurs in order to obtain their ideas and suggestions ahead of the next round of negotiations with those six nations. The poll, which is accessible to all parties interested in ensuring the greatest possible advantage from the most recent roster of treaties, will help define the boundaries of conversations with Chile, Vietnam, Ukraine, Kenya, Pakistan, and Thailand, the ministry said in a statement.

The UAE's attempts to encourage overseas commerce and economic growth depend heavily on the private sector, according to Juma Alkait, assistant undersecretary for the field of international trade affairs.

"The survey is an opportunity for businesses to directly communicate their experiences, worries, and priorities with us, helping to both shape ongoing negotiations and inform changes to deals already in place," Alkait continued.

According to the Ministry of Economy, there are a total of six categories in the poll, covering topics including the potential for trade and investment, trade impediments, and the role of government in promoting exports and investments. The ministry will utilize the replies to assure the best possible deal for UAE firms, whether through easier, more seamless export market access or by fostering an environment that is favorable to UAE investors in the partner nations. 


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