President of his Highness Sheikh Mohamed Bin Zayed Al Nahyan and his excellence Denis Sassou Nguesa, president of the Republic of Congo, witnessed today the signing of an integral economic association (strain) between the two countries. The agreement was signed in a ceremony held at QASR al Bahr in Abu Dhabi for its excellence Dr. Thani Bin Ahmed al Zeyouudi, Minister of Foreign Trade of the State of the EAU, and his excellence Christian Yoka, budget and public portfolio.
His highness Sheikh Mohamed Bin Zayed emphasized the importance of the agreement to strengthen the strategic relationship between the EAU and the Republic of Congo and expand the horizons of joint economic cooperation. He pointed out that the two nations share a common vision to achieve progress and sustainable development, with an approach to economic diversity and improve growth and prosperity opportunities.
His highness expressed his hope that the agreement would introduce a new phase of cooperation between the two nations in several economic and commercial sectors.
For his part, President Denis Sassou Nguerso welcomed the signing of the strain, highlighting its importance in the advance of the vision and shared ambitions of both nations for sustainable economic growth and prosperity. He affirmed the enthusiasm of his country to improve his economic association with the EAU in a way that benefits the nations and advances the well -being and progress of their peoples.
The agreement with the Republic of the Congo supports the objective of the EAU to deepen with the strategic markets worldwide as part of the efforts to double the size of the Eau’s economy by 2031.
The Republic of the EAU of the Congo CEPA will support these efforts by eliminating or reducing customs tasks, eliminating the barriers to non -tariff trade, increasing access to the market for the export of services and establishing new roads for investment. According to the CEPA, the duties will be eliminated over a period of five years in 99.5% of the tariff lines for the exports of the EAU and 98% of the tariff lines for exports of the Republic of Congo. It is projected that the agreement increases bilateral non -oil trade from USD 3.1 billion registered in 2024 to USD7.2 billion by 2032.
The Agreement Further Strengthens the Growing Times Between The Uae and the Republic of the Congo, With Non-Oil Trade Between The Two Countries Rising by 4.2% In 2024 Compared to 2023, 44.4% Compared to 2022, 52% shared to 2021, and and neared to 2021 321, and 2011, and 2011, EACED AS well as 2021, and and 2021, EACED AND 2011, AND 2021 AND NOARED AND 2011, AND 2011, AND NOW. The signing of three strategic agreements between the countries in 2023 follows, including a double taxation agreement, an investment promotion and protection agreement and an air transport agreement.
Foreign trade remains the cornerstone of the EAU economic agenda. In 2024, the trade of non -oil goods of the EAU reached a historical maximum of USD817 billion, marking an increase of 14.6% in 2023 and 56.8% more than 2021. The comprehensive economic association agreements are a critical pillar to achieve the objective of USD1.1 trillions in total non -oil trade by 2031.
Follow Emirates 24 | 7 on Google News.
