Ministers, Officials Hail Signing Of CEPA Between UAE, New Zealand

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Ministers, officials hail signing of CEPA between UAE, New Zealand

ABU DHABI, (UrduPoint / Pakistan Point News / WAM - 14th Jan, 2025) Ministers and officials have praised the Comprehensive Economic Partnership Agreement (CEPA) between the UAE and New Zealand, describing it as a strategic step to enhance bilateral economic relations and strengthen cooperation in key sectors, including advanced technology, clean energy, agriculture, and financial services.

They emphasised that the agreement supports economic diversification goals and attracts high-value investments, reinforcing the UAE’s position as a global hub for trade and innovation.

Officials noted that the agreement aligns with the UAE leadership's vision to enhance economic integration with global markets, reflecting the nation’s commitment to developing strategic partnerships that serve mutual interests.

The CEPA provides an advanced framework to facilitate trade and investment flows, stimulate growth and innovation opportunities, enhance national economic competitiveness, and support the sustainable development of both countries.

Mohamed Hadi Al Hussaini, Minister of State for Financial Affairs, described the UAE-New Zealand CEPA as a significant strategic step in bolstering bilateral economic relations, increasing investment flows, and consolidating the UAE's status as a global centre for trade and foreign direct investment.

Suhail bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure, highlighted New Zealand's global reputation as a leader in clean energy transitions. He stated that the CEPA would pave the way for collaborative efforts in implementing high-impact projects.

Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, said the CEPA aligns with the UAE leadership’s vision to enhance international cooperation and build high-value partnerships. He described it as a unique opportunity to expand industrial collaboration, particularly in technology, advanced manufacturing, and sustainability.

Abdullah bin Touq Al Marri, Minister of Economy, reaffirmed the UAE's commitment to fostering sustainable economic and trade relations under the guidance of its leadership. He emphasised the strategic economic ties with New Zealand, a key economy in the South Pacific region.

Mohamed Hassan Alsuwaidi, Minister of Investment, said New Zealand’s strong economy, focused on future-centric sectors, makes it an ideal partner for the UAE’s investment community.

He noted that the CEPA would enhance investment flows into clean energy, infrastructure, logistics, tourism, and sustainable food production.

Dr. Amna bint Abdullah Al Dahak, UAE Minister of Climate Change and Environment, noted that the CEPA offers a strategic platform to address global challenges such as food security and climate change. She praised New Zealand’s leadership in sustainable agricultural practices and energy independence.

Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, highlighted the agreement’s role in providing UAE exporters with enhanced access to a significant market while opening new avenues for investment in priority sectors, including agriculture and renewable energy.

Al Zeyoudi added that non-oil trade between the two nations reached US$642 million during the first nine months of 2024, marking an 8 percent increase compared to the same period in 2023. The agreement is expected to secure a critical supply chain in the Pacific region, contributing to the UAE’s goal of reaching AED4 trillion in non-oil foreign trade by 2031.

Ahmed bin Ali Al Sayegh, Minister of State, stated that the CEPA embodies the UAE’s commitment to strengthening partnerships globally, reflecting its international vision and dedication to alliances built on mutual interests.

Khaled Mohamed Balama, Governor of the Central Bank of the UAE (CBUAE), said the CEPA would open new horizons for businesses in both countries to explore investment opportunities in various sectors, including financial services, while enhancing financial and banking cooperation.

Ahmed Abdullah bin Lahej, Director-General of Customs and Ports Security at the Federal Authority for Identity, Citizenship, Customs and Port Security, highlighted the CEPA as a pivotal step in advancing the UAE’s external trade network, simplifying customs procedures, and improving trade efficiency between the two nations.

Abdullah Al Basti, Secretary-General of Dubai Executive Council, described the CEPA as transformative in strengthening the UAE’s strategic position as a global hub for innovation and economic connectivity. He emphasised its role in reinforcing the UAE and Dubai’s status as an international gateway to the vital Asia-Pacific region.