Apr 25, 2024 (MENAFN via COMTEX) --
(MENAFN - KNN India) New Delhi, Apr 25 (KNN) The trade relationship between the United Arab Emirates (UAE) and India has witnessed a surge of 15 per cent since the implementation of the Comprehensive Economic Partnership Agreement (CEPA) in May 2022, according to Ahmed Aljneibi, Director, UAE-India CEPA Council (UICC).
Addressing a business roundtable meet in Jaipur, Aljneibi expressed confidence that the two nations are well on track to surpass their ambitious target of achieving USD 100 billion in non-oil trade by the year 2030.
The UICC, launched on the sidelines of the Vibrant Gujarat Summit in January, has played a crucial role in facilitating the growth of bilateral trade between the UAE and India since the CEPA came into force.
Aljneibi highlighted the rapid growth in the UAE-India trading relationship, attributing it to the signing of the Comprehensive Economic Partnership Agreement (CEPA).
"The bilateral trade has increased almost 15 per cent since the CEPA entered into force on 1 May 2022. Our two countries are on track to far surpass the goal of achieving USD 100 billion in non-oil trade by 2030," he stated.
The business roundtable event, organised by the UICC in collaboration with the Confederation of Indian Industry (CII), served as a platform for Rajasthan-based enterprises from diverse sectors to explore new avenues and opportunities for expanding their engagement with the UAE.
The remarkable surge in UAE-India trade since the CEPA implementation and the ambitious target of USD 100 billion in non-oil trade by 2030 reflect the strengthening economic ties between the two nations.
The CEPA has played a pivotal role in facilitating this growth, and both countries are committed to further deepening their economic partnership.
(KNN Bureau)
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COMTEX_451407917/2604/2024-04-25T13:04:50
