Trade ties with India have grown rapidly: Al Zeyoudi

The Minister of State for Foreign Trade of UAE, Thani Al Zeyoudi on Monday said that the trade ties between New Delhi and Abu Dhabi have proliferated following the Comprehensive Economic Partnership Agreement (CEPA). “Trade ties with India have grown very rapidly following CEPA. There are several areas where we are looking to provide a further fillip to our robust trading ties,” said Thani Al Zeyoudi, Minister of State for Foreign Trade at a joint press conference in Delhi today. Highlighting the central goals of India-UAE CEPA at the press conference today, the UAE minister said that one of them was to increase the flow of goods and services between the two countries. “One of the central goals of the UAE-India CEPA was to increase the flow of goods and services between the UAE and India – and, by doing so, stimulate key export sectors, drive industrial output and kick-start an exciting new era of progress,” the UAE Minister said. It is over a year since the implementation of the UAE-India Comprehensive Economic Partnership Agreement. The India-UAE CEPA is a landmark free trade agreement (FTA) between the two countries. It covers trade in goods, services, investment, and other areas of economic cooperation. The CEPA entered into force on May 1, 2022, and is expected to increase the total value of bilateral trade in goods to over USD 100 billion and trade in services to over USD 15 billion within five years.