UAE-Egypt Negotiations on Comprehensive Economic Partnership

 UAE-Egypt Negotiations on Comprehensive Economic Partnership

                      

UAE-Egypt Negotiations on Comprehensive Economic Partnership

Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of Foreign Trade, led a high-level government delegation to Egypt as part of ongoing negotiations to conclude a comprehensive economic partnership agreement between the two countries.

Al Zeyoudi met with Hassan Al Khatib, Egypt’s Minister of Investment and Foreign Trade, to review the progress made by the technical teams from both countries to date. Both ministers expressed their firm commitment to expanding and deepening bilateral economic relations.

The technical teams have been working on various chapters of the future comprehensive economic partnership agreement, focusing on vital areas such as rules of origin, regulations governing factories operating in free zones, trade in services, and digital trade. This meeting represents a significant step towards strengthening economic cooperation between the UAE and Egypt.

Al Zeyoudi stated, “Investing in our relationship with Egypt is of paramount importance to both countries. The comprehensive economic partnership agreement will usher in a new era of cooperation and coordination, achieving mutual benefits and paving the way for increased trade volume, investment flows, and sustainable economic growth.”

In 2024, non-oil trade between the UAE and Egypt reached approximately $8.4 billion, marking a 21% increase compared to the previous year. This robust trade relationship underscores the UAE's importance as a key trading partner for Egypt within the GCC region and the wider Arab world.

The Comprehensive Economic Partnership (CEPP) aims to build upon this foundation by enhancing trade flows, private sector cooperation, and investment opportunities across various sectors, particularly agriculture, manufacturing, and renewable energy. The UAE's CEPP program aims to strengthen economic and trade ties with countries worldwide. Through this program, the UAE is expanding its foreign trade and solidifying its position as a leading global trade hub.

With 31 CEPP agreements signed, 14 of which are now in effect, the program embodies the UAE's commitment to economic diversification and has played a crucial role in enhancing its access to high-growth markets, contributing significantly to the country's total trade, which reached a record high of $810 billion in 2024.