Chilean president commences landmark visit to UAE

President Gabriel Boric Font of Chile has arrived in Abu Dhabi for an official visit, marking the first visit by a Chilean president to the UAE since the two countries established diplomatic relations back in 1978.

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During his visit, President Boric met with UAE President Sheikh Mohamed bin Zayed Al Nahyan to discuss cooperation in various areas, especially economic, trade, and developmental sectors that align with the sustainable development goals of both nations.

President Font also met with Minister of State for International Cooperation Reem bint Ebrahim Al Hashimy, Minister of State for International Cooperation.

Comprehensive Economic Partnership Agreement

Today, the leaders of the UAE and Chile witnessed the signing of the Comprehensive Economic Partnership Agreement (CEPA). This landmark agreement aims to boost non-oil bilateral trade by eliminating or reducing customs duties, removing trade barriers, and simplifying customs procedures. Additionally, it seeks to create new avenues for investment and cooperation, providing a platform for the private sectors of both countries to forge strong partnerships.

Launched in September 2021, the UAE's Comprehensive Economic Partnership Agreement programme is a vital component of the nation's growth and diversification strategy.

During the visit, the two counterparts also presided over the announcement of several memoranda of understanding aimed at strengthening bilateral cooperation. These agreements encompass a diverse range of sectors, including food security and agrifood investment, investment and information technology collaboration, peaceful space research and activities, and a declaration of intent in the field of mining.

Trade relations

Non-oil trade between the UAE and Chile reached $305.1 million in 2023, a notable growth of 23.6 per cent since 2019.

Chile primarily exports potassium nitrate, sodium, wood, and various food products to the UAE, while the UAE exports phones, portable devices, electronic products, and industrial materials to Chile.

Diplomatic relations

Diplomatic relations between the UAE and Chile date back to 1978 and have strengthened over the years across political, economic, and cultural fields.

Chile opened a trade office in Dubai in 2006 and its embassy in Abu Dhabi in 2009, while the UAE established its embassy in Santiago in 2011.