The UAE Ministry of Economy has recently published the full text of the CEPA signed between the Government of the United Arab Emirates (UAE) and the Government of Indonesia (Indonesia). The landmark agreement was signed on 1 July 2022 and has officially entered into force on 1 September 2023.
- The agreement is expected to increase annual bilateral trade to $10 billion within five years by removing trade barriers on a wide range of goods and services, creating new opportunities for UAE exporters. The deal has the potential to increase the total value of trade in services between the UAE and Indonesia to $630 million by 2030.
- The CEPA is particularly focused on key sectors such as agriculture, food production, logistics and advanced technologies, echoing the UAE’s economic drive towards sustainability, sound economic growth and innovation.
- UAE-Indonesia CEPA guarantees key benefits such as-Exchanging best practices , Reduced barriers to trade in goods, Shaping the rules for digital trade ,Providing certainty and market access for UAE services businesses, Enabling SMEs to export goods and services to Indonesia.