UAE Set to Exceed Cepa Target by 2031
Embracing Economic Prosperity | UAE | CEPA
The UAE’s journey towards economic expansion and global partnerships continues with the recent signing of its 11th Comprehensive Economic Partnership Agreement (Cepa) with Colombia. Anticipation runs high as the UAE aims to surpass its initial target of 21 agreements, propelling foreign trade to unprecedented heights by 2031.
Strengthening International Bonds
- Strategic Endeavors: With the latest agreements with Colombia and Costa Rica, the UAE solidifies its commitment to fostering economic ties across continents, following previous landmark accords with India, Turkey, and others .
- Shared Vision: President Sheikh Mohamed underscores the shared vision of prosperity and sustainable growth between the UAE and Colombia, heralding a new era of economic cooperation and mutual benefit .
Driving Economic Transformation
- Game-Changing Initiatives: The UAE’s Cepa Programme spearheads economic transformation, aiming to elevate non-oil foreign trade to Dh4 trillion by 2031, with notable contributions from existing agreements .
- Strategic Framework: Minister Al Zeyoudi highlights the pivotal role of Cepas in attracting foreign investment and positioning the UAE as a global trade hub, aligning with ambitious targets of $150 billion in foreign investment by 2031.
Pioneering Economic Frontiers
- Investment Potential: Colombia anticipates significant investment inflows from the UAE, particularly in sectors like green hydrogen and the digital economy, fostering bilateral economic growth and cooperation.
- Enhanced Collaboration: Trade Minister German Mendoza foresees strengthened trade and investment cooperation, with private sectors from both nations driving economic advancements across key sectors, promising a positive economic trajectory.
The UAE’s proactive pursuit of economic partnerships and investments sets the stage for a prosperous future, marked by collaboration, innovation, and mutual growth.
