ABU DHABI, 19th March, 2025 (WAM) -- Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, and Samir Obeid, Minister of Trade and Export Development of Tunisia, have announced the start of negotiations towards a Comprehensive Economic Partnership Agreement (CEPA) aimed at strengthening trade and investment ties between the two nations.

In a virtual meeting held between the two ministers and officials from their respective ministries, both sides expressed their commitment to further expand and deepen bilateral relations. The discussions emphasised the mutual benefits of a CEPA, which will aim to enhance trade and investment flows by reducing tariffs and trade barriers, improving market access, and establishing investment pathways across various sectors.

Al Zeyoudi stated, "Tunisia is a valued partner that presents a diverse range of trade and investment opportunities that will enhance our mutual economic growth and prosperity. The start of negotiations towards a Comprehensive Economic Partnership Agreement represents a pivotal opportunity for both the UAE and Tunisia to deepen our economic ties and unlock new avenues for trade and investment."

Al Zeyoudi added that the UAE stands as Tunisia's leading trade partner in the GCC region. In 2024, non-oil trade between the UAE and Tunisia reached approximately US$350 million, a growth rate of 7.7% compared to 2023. The CEPA is expected to serve as a strategic framework for further collaboration and economic integration, increasing bilateral trade, investment opportunities, and collaboration between both countries public and private sectors.

Samir Obeid emphasised that the commencement of official negotiations forges an innovative path for economic and trade cooperation between the two countries. He stated, "The agreement we are working towards will mark a pivotal shift in establishing a comprehensive new framework for economic and trade collaboration between our nations, serving the interests of both countries and opening up extensive opportunities for joint cooperation in priority areas, ensuring mutual benefits for both sides."

The UAE and Tunisia will now proceed to negotiate the specific chapters and provisions covered by the CEPA to deliver a balanced and fair deal. Upon successful conclusion, the CEPA has the potential to unlock significant investment opportunities in Tunisia, with its diverse economy and strong export portfolio that includes key sectors such as agriculture, manufacturing, and renewable energy. The CEPA will serve as a catalyst for collaboration, enabling UAE investors to explore a range of high-potential sectors while enhancing Tunisia's access to GCC and global markets.

The initiation of negotiations with Tunisia aligns with the UAE's broader strategy to double the size of its economy and further expand its role in international trade. With 26 CEPA's concluded and numerous agreements already in force, the program has played a crucial role in enhancing access to high-growth markets, contributing significantly to the UAE's total trade that, in 2024, reached an all-time high of US$816 billion, marking a 14.6% increase over 2023.