The total volume of bilateral trade between the United Arab Emirates (UAE) and India has increased by 37 per cent since the signing of the Comprehensive Economic Partnership Agreement (CEPA), which entered into force in 2022. This was stated by Secretary-General of the Indian Business and Professional Council (IBPC) in Dubai, Sahitya Chaturvedi, as reported by
Emirates News Agency (WAM), a partner of TV BRICS.
According to the expert, UAE exports to India increased by 41 per cent, while Indian exports to the UAE rose by 30 per cent. The parties continue to work towards the long-term goal of increasing bilateral trade to US$200 billion.
Accelerated growth has been recorded in exports of pearls, precious metals, jewellery, machinery, electrical equipment, fuel, mineral oils and aircraft spare parts.
Ahmed Aljneibi, Director of the UAE-India Comprehensive Economic Partnership Agreement Council stated that the partnership has gone beyond the concept of trade facilitation and reached deeper levels of economic integration based on innovation, entrepreneurship and talent mobility. He also noted the growing role of start-ups in supporting bilateral relations.
An event dedicated to the fourth anniversary of the agreement entering into force was held in Dubai. Representatives of government bodies, diplomatic missions, chambers of commerce, companies and investment groups took part in it.
Participants discussed new opportunities in pharmaceuticals, digital trade, logistics, manufacturing, financial technologies, healthcare, aviation, innovation and international investment. The discussions also covered clean energy, the digital economy, agricultural technologies and infrastructure in line with Dubai Economic Agenda D33 (a 10-year master plan aimed at placing Dubai among the world’s top three destinations for tourism and business by 2033).