Al-Zeyoudi: Comprehensive partnership agreement with Chile will take effect within 6 months

Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, said: “The Comprehensive Economic Partnership Agreement signed on Monday with Chile will come into force within the next six months, as it is the 11th agreement the country has signed within the program that has been reached over the past three years.”

Al-Zeyoudi explained during a roundtable held in Abu Dhabi between the Ministry of Economy and the Chilean side that the Comprehensive Economic Partnership Agreement with Chile will help add $73 million to the national economy by 2031, in addition to its significant impact on Chile’s exports.

“This agreement is characterized by a very high liberalization rate, reaching more than 99% on both sides, and a substantial liberalization of the service sector, which is one of the most important areas for attracting investment,” he said. “For the first time, we have added a special chapter to the comprehensive agreement to empower women in the economic and business fields.”

Al-Zeyoudi indicated that during the roundtable a full chapter on supply chains and their importance was discussed, especially in light of the crisis and geopolitical situation the world is going through, in addition to a focus on transparency, explaining that these additions demonstrate the degree of adaptation of the national agreement with other parties and national strategies.

He stressed that the economic agreement strengthens the interest and cooperation between the UAE private sector and the Chilean private sector in many areas, especially minerals, renewable energy, infrastructure, hotels and lithium.

“The Comprehensive Economic Partnership Agreement aims to promote more trade between the two countries and provide many opportunities for investors from the UAE and Chile,” said Alberto Van Klaveren, Chile’s Minister of Foreign Affairs. “The potential for strengthening relations between the two countries is huge, and Chile offers many opportunities to the UAE, especially in areas such as food and minerals.” (Bang)