UAE delegation heads to India with trade deal under focus

Shutterstock

A high-profile UAE delegation will visit India on Wednesday to explore partnerships based on a major trade deal that came into effect at the start of May.

The two sides will look at ways to maximise the benefits of the UAE-India Comprehensive Economic Partnership Agreement, or CEPA.

Discussions will be held with ministers, senior officials and private sector leaders.

The visit will also aim to lay down sustainable mechanisms that empower the business community in both countries.

Sectors such as industrial production, civil aviation, financial services, ICT, food security, transport and infrastructure will be high on the agenda.

Abdullah bin Touq Al Marri, Minister of Economy, will lead the delegation, which includes representatives of 41 government and private entities.

India was the second-largest trading partner of the UAE in 2021.

It accounted for 9% of the total volume of the UAE's trade with the world, and 13% of the UAE's non-oil exports, while the non-oil foreign trade between the two countries in 2021 reached AED165 billion, a growth of 66% compared to 2020.

More from Business

  • Moon Village Association partners with UAE for flagship 2025 events

    The Moon Village Association (MVA), a non-governmental organisation that promotes international collaboration for the development of the lunar economy, has announced a new partnership with the UAE that will see the creation of the Moon Village Centre in Abu Dhabi.

  • Dubai Chambers, HSBC to support expansion of companies

    Dubai Chambers has signed a Memorandum of Understanding (MoU) with HSBC Bank Middle East Limited to support the expansion of local companies into global markets and enhance the ability of international companies to establish and grow their businesses in Dubai.

  • China bans export of critical minerals to US as trade tensions escalate

    China on Tuesday banned exports to the United States of the critical minerals gallium, germanium and antimony that have widespread military applications, escalating trade tensions the day after Washington's latest crackdown on China's chip sector.

  • Inaugural Abu Dhabi Business Week kicks off

    The inaugural Abu Dhabi Business Week (ADBW) kicked off on Wednesday, offering a platform for companies to connect and collaborate to drive the next phase of economic growth and diversification.

  • ADNOC Gas awards gas processing contract

    ADNOC Gas has awarded Worley Engineering the Front-End Engineering and Design (FEED) contract for new gas processing facilities at Bab Gas Cap (BGC), it was announced on Wednesday.