United Arab Emirates: UAE ministers, officials and local government leaders underscored the importance of the UAE-Chile Comprehensive Economic Partnership Agreement. The agreement marks a pivotal moment in the UAE’s strategy to expand its global partnership network, especially in the context of cooperation with Chile, South America’s fourth-largest economy. The partnership with Chile opens a new chapter in the UAE’s relations with this crucial region on the global economic map.
The official stressed that the agreement is an important step in strengthening the UAE’s position as a global economic, trade and industrial hub. This is in line with the UAE’s aim to increase the contribution of various sectors to GDP, aiming for a GDP of AED 3 trillion by the next decade, in line with the “We the UAE 2031” vision.
The agreement is expected to build a strong commercial and investment partnership with Chile, opening up new opportunities for businesses and investors from both countries, and supporting cooperation in key areas such as clean energy, environmental sustainability and food security.
His Excellency Mohamed bin Hadi Al Hussaini, Minister of State for Finance, said: “The Comprehensive Economic Partnership Agreement between the UAE and Chile is a major step forward in bilateral relations and underscores both countries’ commitment to fostering economic growth and international cooperation. Chile’s well-regulated financial markets, supported by strong fiscal policies and central bank liquidity, provide confidence and transparency for UAE businesses and investors. This agreement stands poised to create an optimal environment for cross-border exchanges and cooperation.”
His Excellency Suhail Mohammed Al Mazrouei, Minister of Energy and Infrastructure, said: “Chile has become an essential partner in our energy transition plans. This agreement will accelerate our country’s progress in clean and renewable energy technologies, policy best practices and smart grid development. Chile’s leadership in wind and geothermal power presents an excellent opportunity for deeper engagement as we seek to establish ourselves as a renewable energy champion.”
Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, said: “Our agreement with Chile is crucial to our strategy to diversify our economy, strengthen our industrial capabilities and boost non-oil exports. Chile’s growing manufacturing industry offers a wealth of opportunities for UAE investors and exporters. This partnership will boost industrial development and boost exports to key markets in the Middle East, Asia and Africa.”
Abdullah bin Touq Al Marri, Minister of Economy, said: “Expanding our foreign trade networks is central to achieving sustainable economic growth and reaching a GDP of AED 3 trillion by the next decade. The agreement with Chile marks an important milestone and will foster vibrant trade and investment in sectors such as manufacturing, financial services, energy, tourism and agriculture.”
Dr Amna bint Abdullah Al Dahhak, Minister of Climate Change and Environment, said: “This agreement is an important addition to our country’s foreign trade plans and strengthens our commitment to environmental sustainability and food security. Chile’s focus on sustainable finance and climate adaptation strategies will inform and inspire our efforts to achieve carbon neutrality by 2050.”
His Excellency Mohammed bin Hassan Al Suwaidi, Minister of Investment, said: “The UAE’s Comprehensive Economic Partnership program is opening new avenues for global investment, easing capital flows and identifying high-potential projects. Our agreement with Chile will spur investment in renewable energy, technology, agriculture and infrastructure, supporting the long-term growth of both our countries.”
Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, said: “Expanding our network of trading partners will not only strengthen our position as a global trade hub, but also ensure sustainable growth. Our agreement with Chile, the world’s largest copper producer and a major supplier of agricultural products, will result in an increase in the volume of non-oil foreign trade and an increase in non-oil exports, contributing to the diversification and resilience of our economy.”
Minister of State Ahmed Ali Al Sayegh said: “Trade is a key driver of stability and development. This agreement will deepen our trade ties by improving market access, reducing tariffs and creating new investment opportunities. It will secure supply chains and promote regional cooperation in areas such as energy and logistics.”
His Excellency Khaled Mohamed Balama, Governor of the UAE Central Bank, said: “This agreement is in line with our leadership’s vision of a resilient, sustainable and globally open economic system that aims to promote economic growth, expand foreign trade, encourage investment flows and contribute to financial stability and the protection of the global financial system.”
Ahmed Abdullah bin Rahej, head of the Federal Customs Authority, said: “This agreement builds on strong trade relations and will reduce tariffs and remove barriers, facilitating the exchange of goods and services, lowering costs for businesses and improving overall trade facilitation.”
Abdulla Mohammed Al Basti, Secretary General of Dubai Executive Council, said: “This agreement strengthens economic cooperation between the UAE and Chile, providing UAE-based exporters and investors access to vast opportunities in Chile. It will support joint ventures in key sectors, promoting industrial growth and economic diversification.”