Sign in
UAE + Chile eye sectors for cooperation Economy Minister Abdullah bin Touq Al Marri met with his Chilean counterpart Nicolás Grau to discuss bolstering economic ties after the UAE and Chile signed an economic partnership earlier this week, Wam reports. The discussions focused on collaborating in the sectors of new economy, tourism, aviation, entrepreneurship, e-commerce, renewable energy, tech, and agriculture.
Background: The two countries inked an economic partnership on Monday, aimed at boosting bilateral investments and private sector partnerships, as well as trade between the countries The agreement will eliminate tariffs for 99.5% of UAE imports from Chile, paving the way to achieve the countries’ target of doubling non-oil trade to USD 750 mn by 2030, up from USD 306 mn last year.
The next phase of the agreement will see the two countries cooperate in tourism sub-sectors, such as travel and aviation. The discussions also addressed launching programs to support small and medium enterprises in both countries, as well as introducing initiatives to facilitate exporting into foreign markets.
The pact is set to take effect in six months, Foreign Trade Minister Thani bin Ahmed Al Zeyoudi said at a roundtable, Wam reports. He revealed that the agreement — marking the UAE’s 11th under its economic partnerships program — includes a landmark chapter on women’s economic empowerment, as well as a chapter on supply chains.
The UAE and Chile’s FDI agency, Invest Chile, have several projects in the pipeline aimed at boosting trade and investment, Chile’s Economy Minister Nicolás Grau told Wam, highlighting that Emirati investments in the Latin American nation totaled USD 2 bn in 2023. Grau also noted that both countries’ business communities have expressed interest in collaborating across sectors including mining, technology, desalination, food production, and energy.
ALSO- DP World CEO Sultan Ahmed Bin Sulayem discussed with Chilean President Gabriel Boric future cooperation in logistics, tech, and sustainable development, according to a statement. Bin Sulayem stressed DP World’s commitment to “investing in Chile for the long-term and supporting Chile’s economic expansion for mutual benefit.”
AND- Dubai Chambers inked an MoU with the Chilean Exports Promotion Bureau, ProChile, to coordinate joint events and initiatives to enhance data exchange and cooperation between exporting companies from both countries, according to a statement.
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