Establishing a Comprehensive Economic Partnership Agreement; the UAE and Mauritius
A major turning point for African countries – For the first time, the United Arab Emirates (UAE) and Mauritius have completed remarkable discussions for a Comprehensive Economic Partnership Agreement (CEPA), marking a significant milestone in their relationship.
What is a Comprehensive Economic Partnership Agreement (CEPA)?
In essence, CEPA is a deal intended to strengthen economic cooperation between two nations. It addresses a number of topics, such as cooperation across industries, investment facilitation, and trade in products and services. The main objectives are to strengthen trade and investment flows, promote cooperation between the business sectors of the participating countries, and strengthen economic ties.
How will the CEPA help UAE and Mauritius to collaborate?
Mauritius has a strategic significance through its growth-oriented economic goal and its location in the strategical Indian Ocean.
CEPA is a critical step towards increasing economic connections between the two states particularly through the reduction or elimination of tariffs on trade in goods and elimination of non-tariff barriers on trade in goods.
In a nutshell, the CEPA would include Chapters on Trade in Goods, Rules of Origin, Customs Administration and Trade Facilitation, Trade Remedies, Investment Facilitation, Trade in Services, Intellectual Property Rights and Economic Cooperation amongst others.
The agreement is anticipated to open new avenues for strategic investment, private sector cooperation, academic cooperation, spur economic growth and make a substantial contribution to the development of both nations by easing trade and investment.
How can AcuFin help you?
For more information on how these agreements can be used to increase business throughout Africa and the Middle East, get in touch with us on Madihaa.hosenbocus@acufin.global
