21 C
Dubai
Saturday, January 4, 2025
spot_img

uae: UAE Minister of Economy to lead high-level biz delegation to India this week

[ad_1]

UAE Minister of Economy Abdulla bin Touq Al Marri will be leading a high-level business delegation to India this week to discuss ways to further promote trade and investments between the two countries, an official said. The visit, from May 11-15, assumes significance as both the countries have implemented the Comprehensive Economic Partnership Agreement (CEPA) on May 1.

UAE’s minister for small and medium enterprises is also part of the delegation.

“It will be an important visit as we have implemented the free trade pact,” the official said.

The CEPA is expected to boost bilateral trade to $100 billion in the next five years from $60 billion at present.

Under the trade agreement, domestic exporters in various sectors like textiles, agriculture, dry fruits, gems and jewellery are availing duty-free access to the UAE market.

The UAE is one of the largest trading partners of India and that country is a gateway to the Middle EastNorth Africa, Central Asia and sub-Saharan Africa.

Overall, India will benefit from preferential market access provided by the UAE on over 97 per cent of its tariff lines (or goods), which account for 99 per cent of Indian exports to the UAE in value terms — particularly from labour-intensive sectors such as textiles, leather, footwear, sports goods, plastics, furniture, and engineering products.

[ad_2]

Source link

Related Articles

Empowering Mobility, Globally The Story of Chopra Retec Rubber Products Ltd.

In the heart of Lucknow, where the past meets the future, stands a beacon of entrepreneurial success: Chopra Retec Rubber Products Ltd.. Founded by...

Shopatone Engineers Pvt. Ltd. Pioneering the Path Toward a Sustainable Future

In a world where innovation and sustainability are no longer just aspirations but necessities, Shopatone Engineers Pvt. Ltd. stands as a testament to what...

Morning Routines of Highly Successful People: How to Start Your Day Right

Morning Routines of Highly Successful People: How to Start Your Day Right Morning routines are often touted as the secret sauce of success, a cornerstone...

Global Economic Milestone: Countries Embrace OECD/G20 Minimum Corporate Tax to Drive Fairness and Growth

Global Minimum Corporate Tax: A Milestone in the OECD/G20 Framework for Economic Equality The implementation of a global minimum corporate tax represents a significant milestone...

InfiniteRISE Empowering Businesses to Achieve New Heights

Raghu Kiran, founder of InfiniteRISE, is on a mission to help small and medium-sized businesses grow with clarity, action, and confidence. With over 18...

Latest Articles