Director Ahmed Aljneibi reports a 15 percent increase in India-UAE trade since the CEPA agreement in May 2022.
India and the UAE are experiencing a significant uptick in trade, witnessing a notable 15 percent surge since the implementation of the Comprehensive Economic Partnership Agreement (CEPA) in May 2022. Ahmed Aljneibi, Director of the CEPA Council, revealed this development during a business roundtable in Jaipur, where Rajasthan-based enterprises across various sectors participated.
The UAE-India CEPA Council (UICC), inaugurated during the Vibrant Gujarat Summit in January, serves as a platform for fostering bilateral trade relations. The event, organised in collaboration with the Confederation of Indian Industry (CII), aimed to facilitate greater engagement between Indian enterprises and the UAE across industries such as pharmaceuticals, tourism, and renewable energy.
Aljneibi emphasised the Council’s commitment to ensuring inclusive opportunities for businesses of all sizes and sectors to benefit from the CEPA. With Rajasthan’s diverse economy and robust trade ties with the UAE, valued at $450 million in 2023, there exists immense potential for mutually beneficial collaborations.
The UAE stands as India’s second-largest export destination and third-largest trading partner, with bilateral trade reaching $85 billion and UAE’s foreign direct investment into India soaring to $3.3 billion in 2023.
