OIC roundup: UAE, Malaysia conclude CEPA negotiations
Here's a roundup of key developments across the OIC ecosystem during the month of October
Editor's note: Agreements and collaborations have kept the GCC humming. The UAE concluded negotiations for a free-trade agreement with Malaysia, in an attempt to reduce tariffs, trade barriers and boost private sector cooperation. Saudi is exploring trade and investment opportunities with Egypt, and is looking to enhance its trade partnership with Oman.
Trade Developments
Saudi Arabia / Egypt
Egypt, Saudi explore opportunities to boost trade, investments
Egypt’s Minister of Investment and Foreign Trade, Hassan El-Khatib, met with Saudi Arabia’s Deputy of the General Authority for Foreign Trade, Abdulaziz Al-Sukran, to explore strategies for boosting economic cooperation between the two nations.
El-Khatib highlighted the strong bilateral relationship and the potential to significantly increase trade and joint investments. He commended the efforts of Saudi officials in securing an investment protection agreement. (Zawya)
UAE / Malaysia
UAE, Malaysia conclude negotiations towards CEPA
Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, and Malaysia’s Minister of Investment, Trade and Industry, Zafrul Aziz, announced the completion of negotiations for a comprehensive economic partnership agreement (CEPA) between the two countries.
The deal aims to reduce tariffs, remove trade barriers, and boost private sector cooperation. In 2023, bilateral non-oil trade reached over $4.9 billion, with a 7% increase in early 2024. (Zawya)
Saudi Arabia / Oman
Saudi Arabia, Oman to enhance trade and economic partnership
Saudi Arabia and Oman discussed strengthening their economic partnership, with trade between the two nations reaching 36.8 billion Saudi riyals and Saudi exports to Oman totaling 22.5 billion Saudi riyals.
The discussions occurred during Omani Minister of Economy Dr. Said Al-Saqri's visit to the kingdom, where he met with Saudi Minister of Commerce Dr. Majed Al-Qasabi. The meeting highlighted efforts by GCC countries to boost regional and external trade. (Saudi Gazette)
Qatar / Uzbekistan
Qatar, Uzbekistan chambers discuss enhancing commercial ties
Qatar Chamber’s first vice-chairman, Mohamed bin Towar al-Kuwari, met with Uzbekistan Chamber of Commerce and Industry deputy chairman, Safarov Umidbek Akbarovich, to discuss enhancing cooperation and boosting trade between the two countries.
The meeting explored investment climates and partnership opportunities for Qatari and Uzbek business owners. Al-Kuwari emphasized Qatari businessmen’s interest in Uzbekistan and the chamber’s commitment to encouraging joint ventures. (Gulf Times)
Qatar / Tajikistan
Qatar, Tajikistan review trade, investment ties
Qatar's Minister of Commerce and Industry met with representatives from Tajikistan, Pakistan, and Iran, discussing enhanced cooperation in trade, investment, and industry.
The meetings were held in conjunction with the Asian Cooperation Dialogue's forum.
The focus was on supporting and developing these sectors, with exchanges on the forum's agenda topics. (Zawya)
