UAE and Argentina Launch Comprehensive Economic Partnership Negotiations

The two nations issue a joint statement committing to ambitious trade talks, building on existing bilateral investment frameworks and highlighting high-impact sector collaboration.

The United Arab Emirates and the Argentine Republic have announced the launch of negotiations for a Comprehensive Economic Partnership Agreement (CEPA), marking a significant step in deepening their economic ties. The joint statement was issued during the 81st session of the United Nations General Assembly in New York.

Dr. Thani bin Ahmed Al Zeyoudi, Minister of Foreign Trade, and Pablo Quirno, Minister of Foreign Affairs, International Trade and Worship of Argentina, met to discuss the framework for expanded cooperation. Both ministers emphasised the strength of bilateral relations and their shared commitment to strengthening trade and investment connections across sectors of mutual interest.

The partnership builds upon existing foundations, namely the Bilateral Investment Treaty and the Double Taxation Agreement currently operating between the nations. These instruments provide the stable and predictable regulatory environment essential for facilitating robust commercial flows.

The CEPA negotiations are designed to be ambitious in scope, aiming to unlock new market opportunities for goods and services whilst attracting premium-quality investments. The agreement targets collaboration in strategically important sectors including mining and minerals, artificial intelligence and data centres, pharmaceuticals, energy, agribusiness, aerospace, tourism, infrastructure, real estate and urban development.

A particularly noteworthy example of the partnership’s potential is the strategic collaboration between Argentina’s YPF and the UAE’s XRG within the broader Argentina LNG project. This venture is anticipated to generate total investments of approximately US$51 billion throughout its development lifecycle. The initiative establishes a comprehensive roadmap for an LNG project with initial production capacity of 12 million tonnes annually, with scope for subsequent expansion.

Both governments have expressed their appreciation for the opportunity to advance these discussions and reiterated their dedication to strengthening bilateral economic relations in the coming months. The CEPA represents a strategic commitment to fast-track negotiations and deliver tangible results for businesses and investors in both nations.

Source: WAM