LONDON: Dr. Thani bin Ahmed Al-Zeyoudi, the UAE’s minister of state for foreign trade, led a delegation to the Association of South East Asian Nations Business and Investment Summit in Jakarta on Sunday, Emirates News Agency reported on Tuesday.
The annual economic policy forum involves heads of state, politicians and corporate leaders debating key issues confronting Southeast Asia.
During a session entitled “Innovation, Sustainability, and Prosperity: Strengthening the UAE-ASEAN Partnership,” Al-Zeyoudi emphasized the significance of ASEAN to the UAE’s foreign trade agenda.
In his keynote address, he said Southeast Asian countries were natural trade and investment partners for the UAE due to their pro-growth, pro-trade agendas. He highlighted the many opportunities to be developed in sectors such as agriculture, renewable energy, advanced technology, logistics, and sustainable travel and tourism.
“The ASEAN Business and Investment Summit is an event that shapes the economic agenda of one of the most dynamic regions in the world — and the conversations and resolutions that take place here resonate far beyond Southeast Asia,” Al-Zeyoudi said. “I believe that, as the economic center of gravity continues to shift eastwards, the UAE and ASEAN can form a powerful new corridor of opportunity, one that can direct capital into high-growth sectors, develop new solutions in food security and energy transition, and create clusters of excellence in the industries of the future.
“Our CEPA (Comprehensive Economic Partnership Agreement) program, which includes completed deals with Indonesia and Cambodia and the launch of negotiations with Thailand, Vietnam and Malaysia, underlines our confidence in these economies — and their role in delivering a new Asian future.”
Al-Zeyoudi was also the guest of honor at a private-sector roundtable organized by the Asia House think tank to discuss the evolving UAE-ASEAN relationship. He discussed the country’s foreign trade agenda, its growing involvement in global trade policy, and its goal to strengthen trade and investment ties with ASEAN.
Al-Zeyoudi also met regional prime ministers, ministers and senior government officials to explore increased trade and investment opportunities between the UAE and ASEAN. His aim was also to build consensus on key global trade issues before the World Trade Organization’s 13th Ministerial Conference in February.
Al-Zeyoudi met ASEAN Secretary-General Dr. Kao Kim Hourn and Deputy Secretary-General Satvinder Singh to discuss the UAE-ASEAN partnership, which was solidified when the UAE signed the Treaty of Amity and Cooperation in Southeast Asia in 2022.
During the first half of 2023, the UAE and ASEAN traded goods worth $15.3 billion.
Al-Zeyoudi said ASEAN accounted for 5.2 percent of non-oil foreign trade in the UAE in 2022, totaling $32.2 million. The two sides reaffirmed their commitment to expanding economic cooperation.
Meetings with Indonesian ministers, including Trade Minister Zulkifli Hasan, Investment Minister Bahlil Lahadalia, and Tourism and Creative Economy Minister Sandiaga Uno, focused on implementing the UAE-Indonesia CEPA, which came into force on Friday.
The UAE and Indonesia agreed to work together to achieve $10 billion in bilateral non-oil trade within five years.
Al-Zeyoudi also met senior representatives of the Indonesia Chamber of Commerce to strengthen private-sector partnerships in critical industries and increase bilateral trade flows. Agriculture, energy, logistics, tourism and the Islamic economy were identified as having the highest potential for bilateral trade and investment.
The UAE minister later met Cham Nimol, Cambodia’s minister of commerce, to discuss a roadmap for implementing a CEPA signed between the two countries in June. He also met Tengku Abdul Aziz, Malaysia’s minister of investment, trade and industry; Nguyen Hong Dien, Vietnam’s minister of industry and trade; Alfredo Pascual, the Philippines’ minister of industry and trade; Francisco Kalbuadi Lay, East Timor’s deputy prime minister; and John Denton AO, secretary-general of the International Chamber of Commerce.
