Gabriel Boric, President of the Republic of Chile, begins a landmark official visit to the UAE on Monday, marking the first of its kind since the establishment of diplomatic relations between the two countries in 1978.
The visit is expected to see a major announcement concerning the Comprehensive Economic Partnership Agreement (CEPA), as the two countries have recently concluded successful negotiations in that area. Covering key sectors, including food security, technology, investment, and space, the CEPA is expected to bolster economic cooperation and boost trade and investment between the UAE and Chile.
During the visit, President Boric will engage in discussions with President His Highness Sheikh Mohamed bin Zayed Al Nahyan, focusing on various aspects of cooperation, particularly economic, trade, and developmental areas, which serve the priorities and sustainable development paths of their countries.
The visit is poised to reshape bilateral relations taking them to new heights, with the goal of expanding areas of collaboration and enhancing joint efforts to tackle global challenges, to build a brighter and more resilient future. It also underscores a shared ambition of finding solutions to key global issues such as climate action and sustainability, which align with the commitments of the two countries moulding them into projects and initiatives that support international efforts.
The visit reaffirms the UAE’s drive to build bridges of cooperation with countries worldwide to boost mutual prosperity. It also strengthens the UAE’s trade and investment presence in Latin America, supporting its vision for accelerating sustainable economic growth.
The UAE is committed to its steadfast approach to establishing strong relations and partnerships with countries around the world, in line with the vision of President His Highness Sheikh Mohamed bin Zayed Al Nahyan, which highlights the importance of formulating a shared vision to collaborate in pursuit of progress.
UAE-Chile diplomatic relations date back to 1978, and have continued to grow, with stronger ties seen across various political, economic and cultural fields. Chile opened a trade office in Dubai in 2006 and inaugurated its embassy in Abu Dhabi in April 2009. Meanwhile, the UAE established its embassy in Santiago in June 2011.
Economic ties between the two countries have seen continuous growth over the past years, including the signing of several economic agreements to enhance and strengthen trade exchange, which reached around $281 million in 2020.
According to official sources, Chile’s main exports to the UAE include potassium nitrate, sodium, wood, and various food products, while the UAE exports phones, portable devices, electronic products, and certain industrial materials to Chile.
WAM
