Dubai Chamber And Ministry Of Foreign Trade Highlight CEPAs' Role In Enhancing Service Exports

The Dubai Chamber of Commerce, under the Dubai Chambers umbrella, recently held a workshop with the Ministry of Foreign Trade. The focus was on how the UAE's Comprehensive Economic Partnership Agreements (CEPAs) can boost local services exports. Representatives from Business Groups specialising in service industries attended the session.

Participants explored how CEPAs create commercial and investment opportunities for the private sector. These agreements help expand the global reach of local services and increase export potential. Various sectors, including business services, communications, and engineering, stand to benefit from these agreements.

The workshop highlighted how CEPAs support local companies' growth and international expansion. Sectors such as distribution, environmental services, education, financial services, healthcare, travel and tourism, and more were discussed. The agreements aim to enhance the UAE's role as a key export gateway.

CEPAs offer several advantages like improved market access and reduced customs duties. They also streamline customs procedures and establish clear regulations. These agreements promote fair competition and trade-based growth, benefiting the UAE's economy.

Maha Al Gargawi, Vice President of Business Advocacy at Dubai Chambers, stated: "We are committed to supporting the private sector and raising awareness around key aspects of the business environment to help enhance global competitiveness. CEPAs offer tangible benefits for the business community, and today’s session is an important part of our ongoing cooperation with the Ministry of Foreign Trade to ensure the private sector can capitalise on the diverse opportunities these agreements present."

Business Groups under Dubai Chamber play a crucial role in fostering a competitive business environment. They advocate for industry interests and contribute to policy development that enhances competitiveness. By engaging with government stakeholders, they help shape a resilient business landscape.

The workshop also examined agreement provisions that strengthen the UAE's position as an export hub for goods and services. By promoting fair competition and growth through trade, these agreements support various sectors in achieving their strategic goals.

This initiative underscores Dubai Chamber's commitment to enhancing global competitiveness by supporting private sector growth through CEPAs. The collaboration with the Ministry of Foreign Trade ensures businesses can leverage these opportunities effectively.

With inputs from WAM