UAE government officials have announced that the Comprehensive Economic Partnership Agreement (CEPA) signed with Mauritius marks the beginning of a new era of development and cooperation in trade, economy, and investment. This agreement aims to boost trade and investment flows between the two countries, facilitating opportunities in various key sectors.
Mohamed Hadi Al Hussaini, Minister of State for Financial Affairs, stated,
The CEPA between the UAE and Mauritius is an important step in our efforts to forge strategic partnerships that consolidate our position as a hub for trade and investment, drive productivity in key export sectors, and increase the global competitiveness of our business ecosystem.
Suhail bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure, highlighted the agreement's potential to develop a significant trade corridor between the UAE and Africa, enhancing investment opportunities in vital sectors like ports, transport hubs, and tourism infrastructure. He also noted Mauritius's ambitious clean energy program, which the UAE could support with its advanced technological expertise.
Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, emphasized the opportunities the CEPA presents for the UAE’s private sector, particularly in industrial collaboration and investment. He noted Mauritius’s robust economic growth and dynamic industrial sector.
Abdullah bin Touq Al Marri, Minister of Economy, described the CEPA as a significant step in expanding the UAE's global trading network. He stressed that greater economic integration will enhance the flow of goods and services, create new market opportunities, and support sectors like logistics, manufacturing, tourism, and financial services.
Mohammed Hassan Al Suwaidi, Minister of Investment, highlighted the CEPA's role in facilitating investment flows, particularly benefiting Emirati companies in the services sector. He pointed to sectors like ICT, tourism, and financial services as attractive investment prospects.
Dr. Amna bint Abdullah Al Dahak, Minister of Climate Change and the Environment, focused on the CEPA's potential to enhance food security and support sustainable agriculture in Mauritius. She emphasized the opportunities for joint efforts in smart agriculture and agro-processing.
Sheikh Shakhboot bin Nahyan Al Nahyan, Minister of State, underscored the CEPA as a milestone in bilateral relations, positioning Mauritius as a strategic business and logistics hub. He noted the agreement’s potential to drive investments in energy, mining, agriculture, and tourism.
Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, emphasized the CEPA's role in increasing non-oil trade and establishing new market opportunities. He projected that the agreement would boost bilateral trade beyond US$500 million within five years and increase the UAE’s GDP.
Ahmed Ali Al Sayegh, Minister of State, remarked on the CEPA’s significance as part of the UAE’s broader strategy to strengthen its position as a global trade hub. He noted the potential economic benefits and the support for emerging nations in leveraging global trading advantages.
Khaled Mohamed Balama, Governor of the Central Bank of the UAE, highlighted the CEPA’s role in enhancing economic growth and trade exchange. He emphasized the opportunities for cooperation in financial services and trade.
Ahmed Abdullah bin Lahej, Director-General of the Federal Customs Authority, described the UAE as a strategic trading hub and emphasized the CEPA’s role in reducing trade barriers and tariffs, fostering a new era of trade with Mauritius and Africa.
Abdulla Mohammed AlBasti, Secretary-General of the Executive Council of Dubai, noted the CEPA as a milestone in the UAE’s international partnership efforts, leveraging Mauritius as a gateway to Africa. He projected the agreement would help increase UAE-Africa trade to AED 180 billion over the coming years.
News Source: Emirates News Agency
