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India and the UAE successfully held the first meeting of the Joint India-UAE CEPA Committee (JC). During the Joint Committee, the two sides reviewed the bilateral trade under CEPA in particular, agreed to activate the established committees/subcommittees/technical committees under CEPA, and agreed to exchange preferential trade data on a quarterly basis to effectively monitor CEPA.
The two countries discussed various matters related to the implementation of the agreement and agreed to address any issues that might impede the implementation of CEPA or its use by businesses of both parties, agreed to set up a new trade subcommittee to serve, and also agreed to establish the UAE-India CEPA Committee (UICC) as a A B2B partnership mechanism focusing on MSMEs and start-ups to create greater economic linkages and optimize CEPA benefits.
The two sides also exchanged views on WTO issues. The 13th WTO Ministerial Conference (MC13) is scheduled for the week of 26 February 2024 in Abu Dhabi, United Arab Emirates.
A high-level UAE delegation comprising senior UAE government officials and representatives of the UAE business community, led by Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, visited India on 11-12 June 2023.
The press release added that they agreed that both parties signed the minutes of the first meeting of the Joint Committee (JC) of the India-UAE Comprehensive Economic Partnership Agreement in the presence of ministers today.
During the JC, both parties agreed to initiate the committees, subcommittees and technical committees established under the India-UAE CEPA. In addition, they decided to set up the UAE-India CEPA Committee (UICC) as a mechanism for B2B cooperation, focusing on start-ups and MSMEs.
Dr Zeyoudi called on Federal Minister of Commerce and Industry Piyush Goyal. The visit also marks the Indian leg of the one-year anniversary of the India-UAE Comprehensive Economic Partnership Agreement (CEPA). The two ministers addressed the joint press conference on the achievements and successful conclusion of the first meeting of the Joint Commission, adding.
The two ministers spoke at a joint press conference on the successful conclusion of the first meeting of the Joint Commission. They also participated in a B2B event organized by the Ministry of Commerce in partnership with the Confederation of Indian Industry (CII).
During the meeting, the Union Commerce Minister highlighted, “Initial benefits have already started to accrue from the agreement, with bilateral trade between India and the UAE growing by around 16.5 per cent and hitting a record high of around $84.84 billion in 2022-23 .”Meeting.
Piyush Goyal also said that India’s exports to the UAE will grow by 12% to reach $31.6 billion in 2022-2023.
This post was last modified on June 13, 2023 at 12:10pm
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