To improve industry partnerships and increase trade and investment between India and the UAE, the UAE-India Business Council (UIBC) has inked a number of strategic agreements.
According to PTI, UIBC and the UAE-India Comprehensive Economic Partnership Agreement (CEPA) Council (UICC) agreed to strengthen institutional cooperation as part of three different agreements, guaranteeing more coherence in furthering the goals of the CEPA and strengthening the two countries' economic partnership.
Key Highlights
- UIBC signs MoUs to deepen UAE-India CEPA cooperation and accelerate state-level investments.
- Agreements emphasize collaboration in sectors like fintech, logistics, and services under enhanced trade framework.
To strengthen collaboration across priority services sectors like logistics, healthcare, IT/ITES, education, tourism, and engineering, UIBC also signed a deal with the Services Export Promotion Council (SEPC). The partnership seeks to address market access issues while fostering B2B and B2G interactions.
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In order to capitalize on regional strengths, institutionalize CEPA facilitation at the local level, boost industry participation, and fortify state-level trade and investment ties, UIBC also inked agreements with regional chambers of commerce, such as the Gujarat Chamber of Commerce & Industry, Calicut Chamber of Commerce & Industry, and Bombay Industries Association.
The UAE's ambassador to India, Abdulnasser Alshaali, emphasized the bilateral partnership's strategic importance. "We are opening up new opportunities that will reshape international trade flows and fortify the economic future of both countries, with the UAE-India Comprehensive Economic Partnership Agreement (CEPA) as our foundation," he stated.
