The United Arab Emirates and Mauritius have concluded the terms of a Comprehensive Economic Partnership Agreement (CEPA) on Friday 22nd December 2023, marking the first CEPA concluded by the UAE with an African nation and paving the way for increased trade and investment flows and bilateral private-sector collaboration.
The conclusion of negotiations, which came just four months following the first round of talks, was confirmed by the signing of a joint statement in Mauritius by Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, and Maneesh Gobin, Minister of Foreign Affairs, Regional Integration and International trade of Mauritius.
After rounds of negotiations and virtual intersessional meetings, the following Chapters were concluded: Trade in Goods, Trade in Services, Economic Cooperation, Technical Barriers to Trade, Sanitary and PhytoSanitary, SMEs, Trade Remedies, Investment Facilitation, Government Procurement, Exceptions, Final Provisions, Administration of the Agreement, telecommunications, intellectual property rights, financial services, rules of origin and Digital Trade.
It is expected that the CEPA will further improve the business climate and remove any impediments to trade in goods, trade in services and investment flows. Furthermore, the first CEPA between the UAE and an African country will surely play a pivotal role towards the establishment of joint ventures, movement of professionals and in the strategy of both countries towards their participation in regional value chains.
Sources : ITD