UAE and Mauritius Forge New Path with Landmark Economic Partnership

 




The UAE’s signing of a Comprehensive Economic Partnership Agreement (Cepa) with Mauritius denotes an important step in bolstering trade relations between this country and other African nations by eliminating tariffs while also improving accessibility; a feat that is expected to transform the economies of these two partners. Mauritius will become a significant player in enabling smoother trade flows and spurring economic growth by getting rid of 99% of tariffs on imports coming from UAE. Simultaneously, UAE will do away with 97% of the tariffs; this underlines a mutual vision for advancing economic growth and opening up avenues for its people to prosper. The agreement is set to drive bi-lateral trade higher than its current mark in light of the fact that trade that is not oil related surged by 82.5 percent yearly hitting $76 million between these two countries.


This partnership simply indicates a strategic relocation related to diversifying economic relations and gets along with the idea of promoting worldwide economic negotiations by the UAE. A comprehensive approach to development is reflected in the UAE’s investment of $13.2 bln in Mauritius that gets along well with tourism, real estate, renewable energy or technology as secret areas. This trade agreement demonstrates the UAE’s ambition to lift its economy by 2.6% from Cepas in 2030 while expanding non-oil foreign trade up to $1.1 trillion and boosting exports to Dh800 billion by 2031. As UAE goes on inking deals with Turkey, India or even Indonesia, this Cepa with Mauritius re-affirms its commitment as a forward looking country that seeks for win-win relationships in the global perspective

Comments

Post a Comment

Popular posts from this blog

UAE and South Korea Sign Economic Partnership Agreement

Image
The leaders of the United Arab Emirates UAE and South Korea came together for an important event. President Sheikh Mohamed bin Zayed Al Nahyan of the UAE and President Yoon Suk Yeol of South Korea witnessed the signing of a new agreement This agreement is called the Comprehensive Economic Partnership Agreement CEPA It aims to strengthen the economic ties between the two countries. The signing ceremony marks a significant moment for both nations It shows their commitment to working together and expanding their economic cooper ation This partnership is expected to open up new opportunities for trade and investment Both leaders believe that this agreement will bring positive changes to their economies. One of the main goals of the CEPA is to boost trade between the UAE and South Korea By reducing tariffs and promoting easier trade routes both countries hope to increase the flow of goods and services This will benefit businesses and consumers alike making it easier for them to access a wid...
Read more

Egypt Receives $14 Billion from UAE as Second Payment of Investment Deal, Fuelling Economic Growth

Image
  The UAE has invested $14 billion in Egypt and will help the country achieve major progress in its development agenda. On Friday during a cabinet meeting held at the Secretariat Office Building (SOB) in Cairo, the Egyptian Prime Minister Mr. Mostafa Madbouly confirmed having received that amount from them, thus indicating his government’s dependence on this financial boost for economic empowerment purposes.  This payment marks the second tranche of a monumental $35 billion investment deal inked in February, aimed at advancing the development of Ras Al-Hekma, a promising new resort city nestled along Egypt's northern coast. Since the first $15 billion was extended in March, Egypt has had a significant increase in overseas investments showing that people are more confident about how it will perform economically in future. Not to mention further financial backing guaranteed by organizations such as World Bank, European Union among others have placed Egypt on a good stand to use ...
Read more

India-France-UAE Trilateral: Navigating Indo-Pacific Dynamics

Image
  The virtual trilateral meeting between India, France, and the UAE is a major move in the changing strategic landscape of the Indo-Pacific region. At the same time, it highlights India’s active participation in minilateral forums while using its relations with France and the UAE as a way of dealing with difficult geopolitical transitions. France’s historical ties with India stand as a reminder of a strategic partnership that it once had with Russia underscoring their shared commitment towards an Indo-Pacific region that is free as well as safe from any form of threats. Both sides support something taught just about everywhere — the maritime order based on rules –, which plays an important role in maintaining and supporting world commerce among other issues. The increasing bond between India and the UAE only strengthens the trilateral relationship more, underscoring the shared strategic vision and healthy bilateral engagements they have with each other. This further elevates the ro...
Read more