New Delhi, Apr 25 (KNN) The trade relationship between the United Arab Emirates (UAE) and India has shown a significant increase of 15% since the implementation of the Comprehensive Economic Partnership Agreement (CEPA) in May 2022, as per Ahmed Aljneibi, Director of the UAE-India CEPA Council (UICC). Speaking at a business roundtable in Jaipur, Aljneibi expressed optimism regarding both nations’ progress towards surpassing their ambitious goal of reaching USD 100 billion in non-oil trade by 2030. The UICC, established during the Vibrant Gujarat Summit in January, has played a key role in facilitating the growth of bilateral trade between the UAE and India post-CEPA enactment.
Aljneibi noted the rapid expansion in UAE-India trade ties, attributing it to the signing of the CEPA. “Bilateral trade has grown nearly 15% since the CEPA came into effect on May 1, 2022. Our nations are well on their way to exceeding the target of USD 100 billion in non-oil trade by 2030,” he remarked. The business roundtable, organized by the UICC in partnership with the Confederation of Indian Industry (CII), provided a platform for Rajasthan-based enterprises from various sectors to explore new opportunities for enhancing their collaboration with the UAE. The notable increase in UAE-India trade post-CEPA implementation, alongside the ambitious target of USD 100 billion in non-oil trade by 2030, reflects the strengthening economic bonds between the two countries.
The CEPA has played a significant role in facilitating this growth, and both nations are committed to further enhancing their economic alliance. Aljneibi further elaborated on the ongoing efforts by the UICC to foster deeper trade relations between the UAE and India, highlighting initiatives aimed at promoting business partnerships, facilitating investment flows, and addressing regulatory challenges. He emphasized the importance of continued collaboration between the public and private sectors to capitalize on the potential synergies and opportunities for mutual economic growth.
In addition to the roundtable discussions, the event featured presentations and networking sessions aimed at fostering meaningful engagement and knowledge-sharing among participants. The positive momentum in UAE-India trade relations underscores the strategic importance of the CEPA and the commitment of both nations to capitalize on their economic complementarities for sustained growth and prosperity.
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