UAE and Thailand Explore Trade Agreement to Foster Investments

Thailand and the United Arab Emirates (UAE) have agreed to launch negotiations to establish a Comprehensive Economic Partnership Agreement (CEPA) and a Business Council to expand bilateral trade and investment cooperation.

The UAE and Thailand have agreed to commence negotiations to establish a Comprehensive Economic Partnership Agreement (CEPA) to create new opportunities for trade and investments between the two countries. The agreement is expected to come into force by mid-2024.

Through this trade agreement, the UAE and Thailand aim to increase bilateral trade by 10 percent within the first year of the pact’s implementation. Bilateral trade in 2022 was valued at US$20.8 billion, an increase of some 73 percent from the previous year, with the UAE enjoying a trade surplus of an estimated US$14 billion.

The UAE exported some US$17.4 billion…