The UAE’s Comprehensive Economic Partnership Agreements (CEPAs) with Japan, the European Union, and Ecuador are in the final stages.
Japan is nearing completion while negotiations with the European Union and Ecuador are advancing positively.
Dr Thani bin Ahmed Al-Zeyoudi, the UAE Minister of Foreign Trade, made the comments to the Emirates News Agency.
Importance of CEPAs
Dr Al-Zeyoudi explained that these CEPAs are critical to the Emirates’ growth in non-oil trade.
The UAE’s non-oil exports recorded substantial growth above 45%, exceeding the country’s 2031 targets (Dh 813B), last week.
Trade with India and Türkiye has increased by more than 15% whilst trade has surged by 12% with Indonesia.
Interdependence: GCC-Asia-Africa
Attention is now turning to Asia and Africa as the UAE doubles down on sustaining non-oil growth in emerging markets.
The growth in trade within the BRICS+ alliance is a fundamental pathway for this pivot, underpinned by Asia’s demand for GCC energy exports and the GCC’s demand for infrastructure financing.
Asian economies require large-scale infrastructure investment; the GCC, led by the UAE, deploys surplus capital via sovereign wealth funds, project finance and public-private partnerships across infrastructure, logistics, and technology.
Mubadala Capital, for instance, signed a MoU for a partnership aimed at co-investments and other opportunities with Seviora last year: a subsidiary of Singapore state investment firm Temasek.
Asian investors are growing their presence in Gulf markets through banks, family offices, and corporates from India, Singapore, and South Korea.
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