Comprehensive Economic Partnership Agreement (CEPA)

UAE-India Comprehensive Economic Partnership Agreement

On May 1 2022, UAE and India came into Partnership Agreement. The prior focus of the trade was to benefit in terms of fostering an open trade environment which enhances market access for betterment of service providers all over the sectors. This agreement is a trendsetter because of the short time of 88 days in which it was negotiated and concluded. CEPA is expected to increase the total value of bilateral trade in goods to over US$100 billion and trade in services to over US$15 billion within five years. The CEPA covers almost all the tariff lines dealt in by India (11,908 tariff lines) and the UAE (7581 tariff lines) respectively.

UAE-Israel Comprehensive Economic Partnership Agreement

The UAE-Israel CEPA will enter into force on April 1st, 2023. The agreement enables businesses to take advantage of an array of new benefits, including:

  • Greater market access for UAE products entering the Israeli market, covering more than 96% of tariff lines and 99% value of trade with Israel. An open and non-discriminatory environment for cross-border trade with Israel.
  • Provides UAE service suppliers with access to Israel’s domestic services market in a range of sectors like business services, Communications Services, Distribution Services, Environmental Services Financial Services Tourism and Travel Related Services Transport Services.
UAE-Indonesia Comprehensive Economic Partnership Agreement

The UAE-Indonesia CEPA was signed on 1 July 2022 and entered into force 1 September 2023. As a result of the agreement, businesses can now take advantage of many new benefits, including:

  • Providing better market access for UAE products to Indonesian market covering more than 90% of tariff lines and 94% value of trade with Indonesia.
  • An open and non-discriminatory environment for cross-border trade with Indonesia.
  • Enhanced market access for UAE’s service providers.
  • The removal of unnecessary technical barriers (TBT) for UAE and Indonesian exporters.
  • The use of international standards as a basis for technical regulations.
UAE-Turkish Comprehensive Economic Partnership Agreement

The UAE-Türkiye CEPA was signed on March 3rd 2023 and entered into force 1 September 2023. As a result of the agreement, businesses can now take advantage of many new benefits, including:

  • Providing better market access for UAE products to Türkiye in market covering more than 83% of tariff lines and 93% value of trade with Türkiye.
  • An open and non-discriminatory environment for cross-border trade with Türkiye .
  • Enhanced market access for UAE’s service providers.
  • The removal of unnecessary technical barriers (TBT) for UAE and Turkish exporters.
UAE-Cambodia Comprehensive Economic Partnership Agreement

The UAE-Cambodia CEPA was signed on June 8, 2023 and entered into force on January 31, 2024. As a result of the agreement, businesses can now take advantage of an array of   benefits. These include:

  • Market Expansion: The UAE-Cambodia CEPA unlocks vast opportunities for market expansion, covering an extensive array of over 92% of tariff lines, and providing UAE businesses with privileged access to Cambodia’s thriving and diverse consumer base.
  • Investment Opportunities: The agreement encourages bilateral investments by offering a conducive environment for UAE investors in Cambodia and vice versa, promoting economic growth, job creation, and technological advancements.
  • Support for SMEs: The UAE-Cambodia CEPA includes provisions to support Small and Medium-sized Enterprises (SMEs), offering them a platform to expand their reach, access new markets, and contribute significantly to the economic growth of both nations.
  • Boost to Service Sector: With a focus on the service sector, the agreement enhances market access for UAE service providers in Cambodia, facilitating collaboration in areas such as finance, healthcare, education, and other service-oriented industries.
  • Streamlined Customs Procedures: Businesses benefit from simplified and expedited customs procedures.

WHY US?

Our team of professionals in Legallands, LLP provide various services which includes under CEPA. We help and assist our client to provide consultancy to Companies and strategizes the policies of the company to assess the risk in the competitive market and increase the profit margin of the company. We also assist in trade services which includes Market entry strategy and foreign market analysis, compliance with international trade regulations and standards, customs and tariff strategy advisory, supply chain optimization and logistics management, trade finance and risk mitigation strategies, negotiation and management of international trade agreements.

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YOU ARE WELCOME!

We, the LegalLands LLP , are a family of exceptional professionals with expertise in the fields of law, taxation, business administration, consultation services, etc. We understand your problems and work to the best of our abilities, tailoring our knowledge and expertise to your specific interests and needs, to arrive at the best suitable solutions to your problems. Our aims are to cater to your needs rather than viewing these needs as opportunities to enrich ourselves at your cost!
We look forward to many more engagements with you which keep adding value to your lives.
Together and onwards we march on toward new milestones in our illustrious journey.

RAJIV TULI

Managing Partner

Legallands LLP