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UAE, Indonesia say trade deal could be signed next month -Breaking


By Alexander Cornwell and Fransiska Nangoy

DUBAI, (Reuters) – Officials of the United Arab Emirates and Indonesia said they are closing in on a trade- and investment agreement after months and possibly signing it in March.

Last September, the UAE and Indonesia entered into negotiations for a Comprehensive Economic Partnership Agreement. This agreement will eliminate tariffs as well as increase investment.

Thani Al Zayedi, Emirati Minister Of State For Foreign Trade, told Reuters they were near to a deal. He said it might be done as soon as next month.

Djatmiko Brs Witjaksono from Indonesia’s Trade Ministry, stated that the sides are working to finalize the agreement, and could sign it in March.

He refused to discuss the details of what was being still negotiated.

The UAE has been exploring trade agreements with Indonesia, among other countries. UAE is looking to enter into multiple trade pacts in this year.

Amir Hayek from Israel, Israel’s Ambassador to the UAE tweeted on Monday, that trade talks were in progress with the UAE.

Al Zeyoudi indicated that the UAE is studying the possibility of a CEPA with EAC trade bloc, which includes six nations East African Community countries (EAC), and Kenya, Rwanda, Tanzania.

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