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Wednesday, May 22, 2024

UAE & New Zealand discuss economic partnership

The United Arab Emirates and New Zealand have embarked on negotiations for a Comprehensive Economic Partnership Agreement (CEPA) aimed at bolstering trade and investment ties. Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, and Todd McClay, New Zealand’s Minister for Trade, signed a joint declaration affirming the agreement. The proposed CEPA, spurred by a 15% increase in non-oil trade between the two nations in 2023, seeks to enhance economic cooperation through tariff reductions, improved market access, and investment pathways in sectors like agriculture, renewable energy, and healthcare. Both parties expressed enthusiasm for the opportunities this agreement will bring, highlighting the UAE’s role as a vital export destination and hub in the Gulf region.

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