UAE: Ministry launches new survey for business owners, entrepreneurs about CEPA

The survey has a total of six sections, covering areas such as current market access in the targeted countries, trade and investment potential, and more

By Web Desk

Published: Fri 5 May 2023, 12:22 AM

The Ministry of Economy has announced the launch of a new survey targeting the UAE’s business owners, industrialists and entrepreneurs in order to gain their insights and inputs ahead of negotiations for upcoming Comprehensive Economic Partnership Agreements (CEPAs). The survey will help shape the parameters of discussions with Chile, Vietnam, Ukraine, Kenya, Pakistan and Thailand, and is open to all interested parties to ensure maximum benefit from the latest roster of deals.

The survey has a total of six sections, covering areas such as current market access in the targeted countries; trade and investment potential; barriers to trade and the role of government in facilitating exports and investments. The responses will be used by the Ministry to ensure the optimum deal for UAE businesses, whether through smoother, more seamless market access for exports, or by creating the right climate for UAE investors in the partner countries.

Advertising

H.E. Juma Alkait, Assistant Undersecretary for International Trade Affairs Sector, said the private sector is an essential partner in the UAE’s efforts to promote foreign trade and economic growth. “We recognize that businesses face unique challenges and opportunities in different markets, and we need to ensure that our trade agreements reflect those realities to ensure maximum returns to the private sector.

“The survey is an opportunity for businesses to share their experiences, concerns, and priorities directly with us, to not only shape ongoing negotiations but to also inform adjustments on deals already in play,” he added.

The UAE signed its first CEPA with India on February 18, 2022, which entered into force on May 1, 2022. It has since concluded agreements with Indonesia, Israel and Turkey. Today the UAE is targeting a total of 22 countries and five economic blocs, which will cover a total of 103 countries and represent up to 95 percent of total global trade.

ALSO READ: