Chilean President’s Visit Marks a New Era for UAE-Chile Relations

The recent visit of President Gabriel Boric Font to UAE marks a new phase in cooperation between the two nations as he met with key officials including Reem Al Hashimy, Minister of State for International Cooperation and Mohamed Hassan Al Suwaidi, Minister of Investment. Through this visit, he has signed Comprehensive Economic Partnership Agreement (CEPA), which is one of the most important steps in UAE’s strategy of expanding its worldwide alliances. The main objective of CEPA is more than doubling non-oil bilateral trade from $306 million in 2023 to $750 million by 2030 and it reflects UAE’s efforts to establish strong economic relations with Chile that is the fourth biggest economy in South America.

In order to maximize their mutual benefit from the UAE’s development experience, President Boric is keen on increasing cooperation with this Middle Eastern country in areas such as renewable energy, investment, and sustainable development. The agreement not only signifies a strong economic partnership but also reflects both countries’ commitment towards sustainable economic growth through innovation. This partnership will thus lead to transformational progress and better global cooperation for both countries involved in it.