UAE and Australia to hold Cepa talks
- Date: 12-Dec-2023
- Source: AGBI
- Sector:Financial Services
- Country:UAE
UAE and Australia to hold Cepa talks
The UAE and Australia have agreed to hold talks on a comprehensive economic partnership agreement. Once concluded, the Cepa would be Australia’s first with a country in the Middle East and Africa. The UAE is Australia’s biggest trade partner in the Middle East. Bilateral non-oil trade between Australia and the UAE was worth $4.5 billion […]
Australia’s first Cepa in Middle East
Trade worth $4.5bn in 2022
Earlier free trade talks stalled
The UAE and Australia have agreed to hold talks on a comprehensive economic partnership agreement. Once concluded, the Cepa would be Australia’s first with a country in the Middle East and Africa.
The UAE is Australia’s biggest trade partner in the Middle East.
Bilateral non-oil trade between Australia and the UAE was worth $4.5 billion in 2022, up 28 percent compared with 2021 and almost double the total in 2020.
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Australia and the UAE commenced negotiations for a free trade agreement in 2005, which developed into negotiations for an Australia-GCC deal in 2007, but talks stalled in 2009.
Dr Thani bin Ahmed Al Zeyoudi, UAE minister of state for foreign