New Delhi: India and the United Arab Emirates (UAE) held discussions focused on expanding bilateral trade and investment in key sectors such as infrastructure, energy, and technology.
In an X post, Union Commerce and Industry Minister, Piyush Goyal, on Friday, informed that two countries have reaffirmed their commitment to deepen the partnerships.
“Honoured to welcome Dr @ThaniAlZeyoudi , the UAE’s Minister of Foreign Trade, and congratulated him on assuming his new role.Our discussions focused on expanding bilateral trade and investment in key sectors such as infrastructure, energy and technology. We reaffirmed our shared commitment to deepening the India-UAE partnership and unlocking new avenues of growth together,” the Union Minister wrote in the X post.
The Economic Partnership Agreement (CEPA) between the two countries completed three years of signing in February, marking a significant development.
According to the Ministry of Commerce and Industry, since the signing of CEPA, bilateral merchandise trade has nearly doubled from USD 43.3 billion in FY 2020-21 to USD 83.7 billion in 2023-24.
During the current FY till January’25, it reached USD 80.5 billion. CEPA has been successful in realising its potential for diversification of trade basket as non-oil trade touched USD 57.8 billion in FY 2023-24, accounting for more than half of the total trade.
