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UAE’s economic agreements with Turkey and Indonesia spring into action

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The United Arab Emirates (UAE) is entering a new era of economic collaboration with two rapidly growing global players as it activates two of its Comprehensive Economic Partnership Agreements (CEPAs). The UAE-Türkiye CEPA and the UAE-Indonesia CEPA have officially come into force, setting the stage for enhanced trade and investment cooperation.

The primary goal of these CEPAs is to foster economic ties by doubling non-oil trade. The UAE-Türkiye CEPA aims to elevate bilateral non-oil trade to an impressive $40 billion within five years, while the UAE’s CEPA with Indonesia seeks to push non-oil trade beyond $10 billion within the same timeframe. These agreements also aim to facilitate investment projects valued at $10 billion in various sectors.

In the words of HE Al-Zeyoudi, “The implementation of our CEPAs with Türkiye and Indonesia marks a significant step forward in our foreign trade program. Both agreements will unlock significant opportunities for our private sector in two of the world’s most dynamic centers of growth.”

These CEPAs are the third and fourth of their kind to come into force for the UAE, following successful agreements with India in May 2022 and Israel in April 2023. They are a testament to the UAE’s foreign trade agenda, strategically forging robust economic connections with nations of global importance. Both CEPAs promise to reduce or remove tariffs on a wide range of goods, eliminate trade barriers, and create pathways for investments in vital sectors like logistics, energy, food production, fintech, e-commerce, and travel and tourism.

The UAE-Indonesia CEPA, inked in Abu Dhabi in July 2022, aims to significantly boost bilateral non-oil trade from $4.08 billion to over $10 billion within five years. Additionally, the agreement targets a combined trade in services worth $630 million by 2030. Notably, over 80 percent of UAE exports to Indonesia will now be exempt from customs duties under this pact. This partnership also has an eye on nurturing the rapidly expanding Islamic economy, projected to reach $3.2 trillion by 2024. It will accelerate investment projects worth $10 billion across sectors like agriculture, energy, infrastructure, and logistics. The UAE-Türkiye CEPA is equally impactful, having eliminated or reduced customs duties on 82 percent of product lines, accounting for more than 93 percent of bilateral non-oil trade. Türkiye was the UAE’s fastest-growing top ten trading partner in 2022, witnessing a 40 percent increase in non-oil trade to $18.9 billion. The newly liberalized trade environment is set to drive this figure to an impressive $40 billion within the next five years.

HE Al Zeyoudi also stressed that the Comprehensive Economic Partnership Agreements play a vital role in attaining the nation’s objectives, in particular the vision laid out in “We The UAE 2031”, which seeks to double the UAE’s non-oil foreign trade to AED4 trillion and elevate national exports to AED800 billion. The recently published statistics from H1, 2023, which show a record non-oil foreign trade value of AED1.239 trillion for the first six months of the year, demonstrate that the UAE is firmly on track – and that the CEPA program will help maintain this upward trajectory.

Announcements

New Dubai rule makes investor visas easier for property buyers

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Dubai has made it easier for property buyers to secure residency, after the Dubai Land Department (DLD) introduced new rules removing the minimum property value requirement for a two-year real estate investor visa.

Previously, investors needed to own property worth at least Dh750,000 to qualify. Under the updated system, buyers can now apply for the visa regardless of property value, as long as they are the sole owner.

For many UAE expats and first-time buyers, the move significantly lowers the barrier to entry, making it possible to invest in more affordable properties while still securing residency benefits.

Officials say the change is part of Dubai’s wider push to expand its investor base, boost property demand, and strengthen its position as a global real estate hub.

There are still some conditions for jointly owned properties. According to DLD’s Cube Centre, if two investors share ownership equally, each person’s stake must be at least Dh400,000 to qualify for the visa.

What it means for expats

For expats looking to put down roots in Dubai, the update creates more flexibility and accessibility, especially for those entering the market at lower price points. It also opens the door for a wider range of investors to benefit from property-linked residency.

The move is expected to increase market activity, encourage long-term investment, and support sustainable growth across Dubai’s real estate sector.

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How to get an industrial licence in Sharjah for just Dh1,000

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Sharjah offers a Dh1,000 industrial licence at the ‘Make it in the Emirates’ forum

New Sharjah initiative cuts the cost of starting industrial businesses

UAE entrepreneurs can launch factories in Sharjah for Dh1,000

Sharjah boosts manufacturing sector with new investor incentives

‘Make it in the Emirates’: Sharjah unveils low-cost industrial licence

Sharjah targets investors with fast-track industrial setup offer

Big opportunity for entrepreneurs as Sharjah lowers licence costs

Sharjah strengthens position as industrial hub with new initiatives

Sharjah is stepping up efforts to attract industrial investment, as the Sharjah Economic Development Department (SEDD) and Sharjah Foundation for Supporting Entrepreneurship take part in the latest edition of the Make it in the Emirates forum.

For entrepreneurs and expats looking to start or expand industrial ventures, one of the standout announcements is a special initiative offering instant industrial licences for just Dh1,000, covering all permitted industrial activities in the emirate.

Officials say the move is part of a broader strategy to simplify business setup, reduce costs, and accelerate project launches, making it easier for investors to enter the market.

Speaking at the forum, Hamad Ali Abdulla Al Mahmoud said the initiative reflects Sharjah’s commitment to building a diversified, knowledge-based economy, while supporting innovation and long-term growth in the industrial sector.

Beyond licensing, SEDD is also using the platform to connect with global manufacturers and industry leaders, aiming to build partnerships that support technology transfer and enhance the quality and global reach of Made in Sharjah products.

For business owners and aspiring founders, the initiative offers lower entry barriers, faster setup processes, and access to funding and support services.

How to apply for an industrial licence

Setting up an industrial business in Sharjah is becoming faster and more accessible. Here’s a simple breakdown of how to apply through the Sharjah Economic Development Department (SEDD):

1. Choose your activity
Select the industrial activity you want to operate. This licence covers a wide range of permitted manufacturing activities in Sharjah.

2. Submit your application
Apply through SEDD’s official website, service centres, or via initiatives promoted at the Make it in the Emirates forum.

3. Provide required documents
Typically includes:

  • Passport/Emirates ID copy
  • Business details
  • Initial approvals (if required for specific activities)

4. Get instant approval
The initiative offers fast-track processing, allowing many applications to be approved quickly.

5. Pay the fee
Pay the Dh1,000 licence fee, which covers all permitted industrial activities under this offer.

6. Start operations
Once approved, you can begin setting up your industrial project and access additional support services.

Entrepreneurs can also tap into funding, advisory, and training support through Sharjah Foundation for Supporting Entrepreneurship to help grow their business.

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New ‘Shop Local’ initiative helps UAE consumers discover homegrown brands

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‘Shop Local’, a new initiative aimed at helping consumers across the UAE discover and support homegrown businesses, while giving small and medium enterprises (SMEs) greater visibility, has been launched by a local platform Quiqup.

It will bring together UAE-based brands in one place, allowing users to easily browse, discover and purchase from local businesses that often face challenges standing out in crowded digital spaces.

Open to small and local businesses nationwide, ‘Shop Local’ is designed to address one of the most common hurdles SMEs encounter, reaching the right audience. By offering a dedicated channel, the initiative aims to help businesses build awareness, drive sales and support long-term growth.

The launch coincides with the announcement of the establishment of the Dh1 billion National Industrial Resilience Fund to boost localisation within key industries by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.

Strengthening local businesses

Fatima Yousif Alnaqbi, Acting Assistant Under-Secretary for the Support Services Sector at the Ministry of Finance and representative at the Mohammed Bin Rashid Innovation Fund, highlighted the importance of enabling high-potential businesses to scale.

She noted that supporting companies at the right stage allows them to contribute more effectively to the economy, particularly in the UAE, where innovation and entrepreneurship play a key role in driving growth and creating new opportunities.

Bassel El Koussa, CEO of Quiqup, said the initiative reflects the company’s belief in strengthening connections between businesses and communities.

He added that ‘Shop Local’ is intended to create opportunities for local brands to grow, deepen customer engagement and build a stronger market presence, while encouraging consumers to play a more active role in supporting the local economy.

The platform has already received 190 brand submissions, with Quiqup aiming to onboard at least 250 businesses in the coming weeks.

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