The UAE and Argentina have launched negotiations for a Comprehensive Economic Partnership Agreement as the two countries move to deepen trade and investment ties across a broad range of sectors.
The announcement was made on the sidelines of the 81st session of the United Nations General Assembly in New York, following a meeting between Dr Thani bin Ahmed Al Zeyoudi, UAE Minister of Foreign Trade, and Pablo Quirno, Argentina’s Minister of Foreign Affairs, International Trade and Worship.
Stay up to date with the latest news. Follow KT on WhatsApp Channels.
Both sides said they would seek to fast-track negotiations and conclude an ambitious agreement aimed at expanding market opportunities for goods and services of mutual interest.
The UAE and Argentina also highlighted their existing Bilateral Investment Treaty and Double Taxation Agreement as key foundations for stronger economic ties, providing a more stable and predictable framework for trade and investment.
Focus on key growth sectors
The proposed CEPA is expected to support greater trade and investment cooperation in sectors including mining and minerals, artificial intelligence and data centers, pharmaceuticals, energy, agribusiness, aerospace, tourism, infrastructure, real estate and urban development.
The two countries said the agreement would also aim to attract higher-quality investment and strengthen links between trade and investment flows.
$51 billion LNG project highlighted
The joint statement highlighted the partnership between YPF and XRG as an example of the type of large-scale investment the two countries want to encourage.
The partnership forms part of the broader Argentina LNG project, which is expected to involve around $51 billion in total investment over the course of its development.
The project sets out a roadmap for LNG production with an initial capacity of 12 million tons a year, with scope for future expansion.
Both sides reaffirmed their commitment to continue strengthening bilateral trade and investment relations in the near term.
Source: Khaleej Times