UAE and Tunisia Launch CEPA Discussions to Boost Trade and Financial Connections

UAE and Tunisia Negotiate Comprehensive Economic Partnership Agreement

The United Arab Emirates (UAE) and Tunisia have initiated negotiations for a Comprehensive Economic Partnership Agreement (CEPA), a move that aligns with the UAE's strategy to strengthen economic ties with other nations.

The negotiations, which began in April 2022, were confirmed during a virtual meeting attended by Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, and Samir Obeid, Tunisia's Minister of Trade and Export Development.

According to Al Zeyoudi, the CEPA is a pivotal step towards unlocking new trade and investment opportunities. He also highlighted Tunisia's economic potential, noting that the UAE is Tunisia's leading trade partner in the Gulf Cooperation Council (GCC).

The CEPA is expected to expand market access for both the UAE and Tunisia. In 2024, the UAE's total trade was US$816 billion, representing a 14.6% increase from the previous year. Non-oil trade between the UAE and Tunisia reached US$350 million, reflecting a 7.7% growth from the previous year.

Obeid stated that the agreement would provide a comprehensive framework for cooperation, driving mutual growth and benefiting priority sectors such as agriculture, manufacturing, and renewable energy. The CEPA has the potential to boost foreign investment in the UAE, contributing to its current strategy of expanding global trade partnerships.

The CEPA aims to reduce trade barriers, enhance market access, and establish strategic investment pathways across key sectors. It is set to provide a comprehensive framework for cooperation, fostering long-term prosperity for both the UAE and Tunisia.

Both parties are negotiating specific provisions for the CEPA, with the goal of achieving a balanced and mutually beneficial deal. The agreement, once finalised, is expected to benefit priority sectors such as agriculture, manufacturing, and renewable energy in both countries.

In conclusion, the negotiations for the CEPA between the UAE and Tunisia mark a significant step towards strengthening economic ties between the two nations. The potential benefits of the agreement, including increased trade, investment, and cooperation in key sectors, could lead to long-term prosperity for both countries.

UAE and Tunisia Launch CEPA Discussions to Boost Trade and Financial Connections