The UAE and Chile have signed a Comprehensive Economic Partnership Agreement (CEPA) to enhance non-oil bilateral trade by removing trade barriers and simplifying customs procedures. The CEPA aims to increase non-oil trade between the two countries to USD 750 mln by 2030, up from USD 306 mln in 2023. It is also expected to raise UAE exports by USD 247 mln by 2030.
This agreement is the UAE’s second deal with a South American country this year, following a similar agreement with Colombia in April. Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, highlighted opportunities in manufacturing, mining, financial services, renewable energy, tourism, and agriculture.
The UAE’s main exports to Chile include phones, portable devices, electronic products, and industrial materials, while imports from Chile primarily consist of potassium nitrate, sodium, wood, and various food products. The agreement is set to take effect in six months and is anticipated to strengthen commercial and investment ties between the two nations.
