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Monday, April 22, 2024

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Mauritius-UAE Comprehensive Economic Partnership Agreement Negotiations

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The signing ceremony of a joint statement to mark the conclusion of the Comprehensive Economic Partnership Agreement (CEPA) Negociations between Mauritius and the United Arab Emirates (UAE), was held, on Friday, at the Caudan Arts Centre, Port Louis.

Signatories were the Attorney General and Minister of Foreign Affairs, Regional Integration and International Trade, Mr Maneesh Gobin, and the Minister of State for Foreign Trade of the UAE, Dr Thani Bin Al Ahmed Zeyoudi. The Chief Negotiator and Assistant Under-Secretary for International Trade Affairs, Mr Juma Al Kait and other eminent personalities were present for the occasion.

The objective of the Agreement is to strengthen trade relations between the two countries, particularly through the reduction or elimination of tariffs on trade in goods and the elimination of non-tariff barriers on trade in goods.

Comprehensive Economic Partnership Agreement Between Mauritius and UAE

In his keynote address, the Minister emphasised the growing ties between both countries, recalling the opening of a Consulate-General in Dubai and the opening of an office of the Economic Development board of Mauritius in Dubai. He underlined the positive contribution of the Emirates Airlines for its pivotal role in boosting tourism, citing their daily flights as crucial in elevating Mauritius as a prime destination.

Furthermore, Mr Gobin stressed that the CEPA is expected to open up new avenues, outlining the successful negotiation of 12 Chapters which encompasses, amongs others, trade in goods, services and, investment. He also highlighted the CEPA’s potential to enhance economic and trade relations significantly.

Comprehensive Economic Partnership Agreement Between Mauritius and UAE

Additionally, Minister Gobin stressed the CEPA’s role as a catalyst for improving the business climate, foreseeing its ability to streamline trade barriers across goods, services, and investments. He averred that the CEPA, the first between the UAE and an African country, will play a pivotal role in the establishment of joint ventures, the movement of professionals and, towards the participation of both countries in regional value chains.

For his part, Dr Thani dwelt on the shared objectives of both nations, emphasising their pursuit of peace and prosperity. He highlighted the expanding bilateral oil trade, which has now surged to $150 million. Dr Thani expressed confidence in the ongoing evolution of oil trade between the two countries. Additionally, he touched upon the importance of knowledge exchange, fostering special networks for the seamless sharing of information from both sides.

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