Team Blitz India
NEW DELHI: With a notable 16 per cent increase in non-oil bilateral trade to over $50 billion in 2022 following the signing of the UAE-India Comprehensive Economic Partnership Agreement (CEPA), the two countries are poised to reach a remarkable $100 billion trade target by 2030, envisioned Ahmed Aljneibi, Director of the UAE-India CEPA Council (UICC).
The UICC is a bilateral organisation supported by the UAE and Indian governments, which aims to further facilitate investment and trade between the two countries.
The UICC Director was discussing initiatives and strategies aimed at intensifying economic ties between the UAE and India following a business roundtable for Chennai-based exporters in the Tamil Nadu capital on February 29.
The roundtable was a significant platform for the business-owners to identify and discuss opportunities and benefits from the CEPA. It was also an occasion to understand the bilateral strategic partnership more broadly. More than 20 participants from diverse sectors such as logistics, automotive, agriculture, and healthcare took part in the event.
Addressing the roundtable, Aljneibi shared the significant benefits afforded by the CEPA, which include preferential market access and the facilitation of MSME expansion. “We look forward to building upon this momentum and continuing to drive impactful initiatives that will further deepen the UAE-India economic partnership,” he said.
India-UAE CEPA was signed on February 18, 2022, in New Delhi during a virtual bilateral Summit between Prime Minister Narendra Modi and Sheikh Mohammed Bin Zayed Al-Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and Chairman of the Executive Council.
