UAE leads high-level delegation to Egypt for CEPA negotiations

Dr. Thani bin Ahmed Al Zeyoudi, UAE's Minister of Foreign Trade, has led a high-level government delegation to Egypt as negotiations continue to secure a Comprehensive Economic Partnership Agreement (CEPA) between the two nations.

Al Zeyoudi reviewed the progress between the two countries with Hassan Al-Khatib, Minister of Investment and Foreign Trade of Egypt.

Both ministers expressed a strong commitment to further expand and deepen their bilateral economic relations.

Technicalities of the agreement are also being sorted, including product rules of origin, regulations for factories operating in free zones, trade in services, and digital commerce.

In a statement, Al Zeyoudi said that "a Comprehensive Economic Partnership Agreement will launch a new era of cooperation and collaboration, bringing mutual benefits and paving the way for increased trade, investment flows, and sustainable economic growth."

In 2024, non-oil trade between the UAE and Egypt reached approximately $8.4 billion, reflecting a growth rate of 21 per cent compared to the previous year.

The CEPA aims to build on this foundation by further enhancing trade flows, private sector collaboration and investment opportunities across various sectors, particularly agriculture, manufacturing, and renewable energy.

With 31 CEPAs signed and 14 already in force, the UAE's CEPA programme reflects its commitment to diversifying its economy and has played a crucial role in enhancing access to high-growth markets, contributing significantly to the UAE’s total trade, which reached an all-time high of $810 billion in 2024.