UAE-India Cepa One Year: Top Officials Discuss Historic Agreement in Documentary – News

First year of agreement has been very successful for both countries, says UAE minister

They agree that the “growth” partnership is not just for the two countries, but for the entire region

The Comprehensive Economic Partnership Agreement (Cepa), which came into force a full year ago, has not only boosted growth in the UAE and India, but has also had a positive impact on the entire region, a senior UAE minister said.

Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, said this in a documentary co-produced by Emirates News Agency (Wam) and Indian state broadcaster Doordarshan India (DD India).

A documentary titled “India-UAE Partnership: New Frontiers, New Milestones” was aired on Monday night, marking the one-year anniversary of the signing of Cepa between the two countries.

DD India is part of the satellite channel array of Doordarshan, which is operated by India’s state-owned public broadcaster, Prasar Bharati. After airing on DD India, the documentary will be released on Wam’s website and social media channels.

In the documentary, Dr Thani bin Ahmed Al Zeyoudi said: “The first year of the UAE-India Cepa has been very successful for both countries and has cemented one of the most important international relations. “Growth” partnerships are established across the region. The impact on trade is clear, with non-oil trade growing by 10% in 2022 to more than $49 billion, and early data for 2023 suggesting this trend continues.”

He reiterated that Cepa is “not just for a year or so”. He believes this will be seen as a key turning point in the economic narrative, showing a global blueprint for international cooperation.

“Our aim is to create a platform for deeper cooperation between our countries, which will reap strong long-term returns. Over the past 12 months, it has helped facilitate investment flows into joint ventures and key industries.” UAE Private The sector is investing billions of dollars in food safety, renewable energy, logistics and retail projects across India, while thousands of Indian companies are now registering with our Chamber and looking for new opportunities in our market. UAE -India Cepa puts automation on the path to greater prosperity. I strongly believe that the UAE-India Cepa will be seen as a key turning point in our economic story on a global model of international cooperation,” added Al Zeyoudi.

Meanwhile, UAE Ambassador to India Abdulnasser Alshaali told Khaleej Times on the sidelines of the milestone that key priority areas have been identified and will be further explored to accelerate growth for both parties.

He said: “Over time, we will want to add more departments to these (existing) bases and see how we can facilitate participation at the public and private levels. We also hope to The way the two countries connect and become important partners and continue to do so in the supply chains of different commodities and goods to attract investment to both countries. Pharmaceuticals is a large sector where we are working on vaccines. We also regard food processing as as part of a broader food safety cooperation between the two countries.”

Explaining how work on this year’s proposed “Bharat Mart” project may gain momentum, Alshaali said it is part of Cepa’s initiative to boost trade and investment between India and the UAE. “It will be great to showcase Indian goods and products in the UAE, not only for the UAE market but also for export to other markets. Going forward, what we really want is that the UAE should continue to be the global supply chain for India An integral part. Stay tuned with us, we’re just getting started.”

Dr. Ahmed al-Banna, former UAE Ambassador to India, noted that the close personal ties between the two heads of state have led to effective cooperation and played a key role in the successful negotiation and finalization of CEPA.

In the documentary, Dr Al Banna said: “I think it’s due to the long-term vision of our leaders … Indian Prime Minister Narendra Modi and his long-term vision and our side of the President His Highness Sheikh Mohammad bin Zayed De Al Nahyan. I would say that this special relationship between the two leaders also made it easier for the rest of the team to actually negotiate and finalize the Comprehensive Economic Partnership Agreement (Cepa) that was signed. INDIA It is the first country in the UAE to sign the Cepa Agreement.”

India’s ambassador to the UAE, Sunjay Sudhir, said in the documentary: “Cepa is a very important agreement for both countries, which reveals the vibrancy of the partnership, which is showing immediate results. For the UAE , it’s the first ever Cepa. For us, it’s a partner, it’s already our third largest trading partner, our second largest export destination. So, it means a lot to us Significant. If you look at the last year after the initial Cepas with India, the UAE has signed a lot of other Cepas, or is in the process of signing a lot of other Cepas. So, in that sense, it’s a trend setter, a result of Cepa It’s something we can all see.”

The Indian Ambassador drew attention to the fact that from April 2022 to February 2023, trade figures between the UAE and India have registered a healthy growth of 20% (bilateral trade).

He added: “As India’s fiscal year draws to a close, we’re slowly getting about $85 billion in bilateral trade, which I think is very impressive. In terms of overall trade, our view on Cepa is that it’s far It goes well beyond trade. It’s a matter of trust and about taking advantage of the opportunities between our countries, whether it’s in the economy, in investment, or in other areas like health, IT and many other areas.”