President Gabriel Boric leads historic first official visit by a Chilean President to the UAE

Abu Dhabi-July 29.2024:President Gabriel Boric of the Republic of Chile arrived in Abu Dhabi on an official visit to the United Arab Emirates (UAE) on July 29/2024, marking a significant milestone as the first official visit by a Chilean president to the UAE. Upon his arrival at the Presidential Airport in Abu Dhabi, President Boric was warmly received by Reem bint Ebrahim Al Hashimy, Minister of State for International Cooperation and Head of the Honorary Mission accompanying the President, Mohammed Saeed Al Neyadi, UAE Ambassador to Chile, and several other officials.

The official visit was highlighted by a crucial meeting between President Boric and UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan. During their discussions, the leaders explored ways to enhance cooperation across various sectors, particularly in trade, investment, and development. The meeting underscored the shared commitment to advancing bilateral relations, with both presidents expressing their desire to forge stronger economic and strategic partnerships.

*President Boric and UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan*

A significant part of the discussions revolved around exploring new opportunities for collaboration, particularly in the fields of renewable energy, technology, and sustainable development. The UAE’s strides in innovation and Chile’s rich resources and strategic initiatives offer a fertile ground for mutual growth and development. Both leaders highlighted the importance of leveraging these strengths to build a robust and diversified economic relationship.

The visit also included the signing of the Comprehensive Economic Partnership Agreement (CEPA) between the UAE and Chile, which aims to facilitate smoother trade by removing barriers and simplifying customs procedures. This agreement is expected to significantly boost non-oil bilateral trade and open new pathways for investment, particularly in sectors such as manufacturing, mining, financial services, renewable energy, tourism, and agriculture.

Main Focus Areas of President Boric’s UAE Visit:

Investment: Chile and the UAE have been steadily enhancing their bilateral trade relationship. In 2023, the exchange of goods between the two nations reached $259.8 million, with an average annual growth rate of 5.9% since 20181. The recent Comprehensive Economic Partnership Agreement (CEPA) signed between Chile and the UAE aims to further enhance trade, investment, and economic cooperation.

Innovation in Science and Technology: Collaboration on cutting-edge research and development is another critical focus area. Both countries recognize the importance of advancing scientific knowledge and technological innovation. Expect exciting discussions around joint initiatives in these fields.

Infrastructure: President Boric and UAE leaders will discuss joint infrastructure projects and partnerships. Infrastructure development is crucial for economic growth and sustainable cooperation.

Beyond Business

President Boric’s visit isn’t solely about economic matters. It symbolizes Chile’s commitment to engaging with the UAE on multiple fronts:

Cultural Exchange: Expect cultural exchange programs that celebrate the rich heritage of both nations.

Academic Collaboration: Universities and research institutions from Chile and the UAE will explore academic partnerships.

Sustainable Development: Joint initiatives related to environmental conservation and sustainable practices are on the agenda.

President Boric’s visit to the UAE marks a pivotal moment in the bilateral relations between Chile and the UAE, setting the stage for a new era of cooperation and mutual benefit. The leaders’ commitment to strengthening economic ties and exploring new avenues for collaboration is a testament to the enduring partnership between the two nations.

Source: Emirates News Agency.