Cepa To Boost Bilateral Trade Up To 20%

Cepa To Boost Bilateral Trade Up To 20%

Pakistan and the UAE are expected to sign Comprehensive Economic Partnership Agreement (Cepa) in fourth quarter that will boost bilayeral trade up to 20 per cent annually, says a top diplomat.

Pakistan’s Ambassador to the UAE Faisal Niaz Tirmizi, who assumed charge in October 2022, said the two countries have made significant progress on Cepa and the formal deal is expected to be signed during the October-December quarter.

“We will share details about Cepa once the agreement is signed. It will be a win-win situation for both the countries and help promote bilateral trade and investment in the years to come,” Tirmizi told Khaleej Times during an interview.

The UAE is one of the major trading partners of Pakistan and its bilateral trade stood firm at $10.6 billion annully. Pakistan is keen to push two-way trade to $40 billion in next 10 years through policy measures to remove trade barriers, rationalise tariff and facilitate traders and investors of both sides.

“Cepa will lay down a solid foundation to build deeper, and more meaningful trade and investment relations with one of the most important economic powers in the Middke East and North Africa region. I’m confident to achieve $15 billion bilateral trade target by 2025,”