The United Arab Emirates and the Republic of Congo-Brazzaville have concluded the terms of a Comprehensive Economic Partnership Agreement (CEPA), the two countries said in a statement.
The conclusion of the negotiations was confirmed by the signing of a joint declaration by Thani bin Ahmed al-Zeyoudi, Deputy Minister for Foreign Trade, and Jean-Baptiste Ondaye, Minister of Economy and Finance of Congo-Brazzaville.
Once ratified and implemented, CEPA will reduce or eliminate tariffs and barriers to trade, improve market access, strengthen customs procedures and create platforms for private sector investment and collaboration in strategic sectors.
The agreement builds on the growing bilateral cooperation between the two sides, which in the first half of 2023 saw non-oil trade increase by 134% compared to the first half of 2022, reaching $2.1 billion. The agreement also follows the signing of three strategic agreements between the nations in early 2023, including an agreement on double taxation, an agreement on investment promotion and protection and an agreement on air transport. [Da Redazione InfoAfrica]
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