UAE and Indian Business Council explore strengthening private sector cooperation under CEPA, with bilateral non-oil trade hitting US$65 billion.
ABU DHABI: The Ministry of Foreign Trade has reaffirmed its commitment to deepening trade relations with India during a meeting between Dr Thani bin Ahmed Al Zeyoudi, UAE Minister of Foreign Trade, and members of the Indian Business Council in the UAE. The discussions focused on unlocking new opportunities for private sector collaboration, building on the strong momentum created by the UAE-India Comprehensive Economic Partnership Agreement (CEPA).
The CEPA, which came into effect in May 2022, was the UAE’s first such agreement under its foreign trade strategy. It has been pivotal in reducing trade barriers, increasing investment flows, and fostering synergies across sectors such as renewable energy, agriculture, and logistics. The UAE has since seen notable progress, with bilateral non-oil trade with India reaching US$65 billion in 2024, reflecting 19.7% growth compared to the previous year.
“India is an essential partner in the UAE’s trade landscape,” Dr Al Zeyoudi said. “Today’s discussions were centred on maximising the benefits of our CEPA to foster deeper collaboration between our vibrant private sectors.”
Highlighting ongoing initiatives, the minister pointed to the launch of the India-UAE Start-Up Series, which enables entrepreneurs to access each other’s markets. Work is also underway on Bharat Mart, a major commercial complex in the UAE that will help Indian manufacturers and exporters reach international markets. Other initiatives include the integration of cross-border payment systems and the establishment of the UAE-India CEPA Council, designed to fully leverage the opportunities created by the agreement.
The meeting underscored that CEPA has already delivered strong results, solidifying the UAE and India’s positions as strategic global trade partners and providing a robust foundation for future private sector-led growth.
