PM Modi praises CEPA with UAE on deal’s first anniversary
On Sunday Prime Minister Narendra Modi said that the Comprehensive Economic Partnership Agreement (CEPA) with UAE has boosted Indian entrepreneurs.
Marking the first anniversary of the India-UAE Comprehensive Economic Partnership Agreement (CEPA), the top business houses of India and UAE came together to open the UAE India Business Council – UAE Chapter (UIBC-UC), to bolster economic ties and facilitate the shared goal of enhancing bilateral trade and investment.
The UIBC-UC was launched by UAE Minister of State for Foreign Trade Thani bin Ahmed Al Zeyoudi, in the presence of the Ambassador of India to the UAE Sunjay Sudhir, Consul General of India in Dubai Aman Puri, and founding members of the UBIC-UC.
Responding to a tweet by commerce minister Piyush Goyal, who had said on Saturday that February 18 marked one year of the signing of the India-UAE CEPA, PM Modi said in a tweet that it has also deepened India’s ties with UAE.
CEPA with UAE has given a boost to Indian entrepreneurs and has also deepened our ties with UAE. https://t.co/OkPrJ70oMB
— Narendra Modi (@narendramodi) February 19, 2023
Goyal and UAE’s minister of state for foreign trade Thani Al Zeyoudi co-authored an article on the completion of one year of CEPA. Goyal even tagged the article with his tweet.
“One year since we signed the India-UAE CEPA. In this article jointly written with UAE Minister of State for Foreign Trade @ThaniAlZeyoudi, we highlight how the deal is a turning point in our economic ties & a model for cross-border collaboration,” Goyal tweeted on Saturday.
One year since we signed the #IndiaUAECEPA
In this article jointly written with UAE Minister of State for Foreign Trade @ThaniAlZeyoudi, we highlight how the deal is a turning point in our economic ties & a model for cross-border collaboration.
📖 https://t.co/3N6uLFJcwV pic.twitter.com/ow4Ue3kpgY
— Piyush Goyal (@PiyushGoyal) February 18, 2023
Goyal along with UAE’s minister wrote in the article that “by reducing the tariff on more than 80 percent of product lines, enhancing market access to service exports and providing a platform for SMEs to collaborate and scale, both the countries have envisioned a new era of opportunity in an uncertain world”.
The two nations aim to increase bilateral trade to $100 billion and attract $75 billion in investment from the UAE to India. The UIBC-UC is poised to play a crucial role in supporting both governments in achieving these objectives and maximizing the potential of the UAE-India relationship. By leveraging the strong bond between the two nations, the council brings together key partners and stakeholders from both nations. It will serve as a valuable source of policy guidance, fostering innovative collaboration between Emirati and Indian businesses.
[With Inputs from IANS]
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Preparing for the future. No need of London. Can have ones own paradise next to India. No need to go to London, Carribean, Singapore etc. Halwa for thought.
After all Dubai got established by the gold it smuggled to India.