The Comprehensive Economic Partnership Agreement (CEPA) signed by UAE and India last month will be operational soon and will simplify customs procedures, reduce logistics cost, and open new opportunities for professional services, officials said at the closing of the 3rd Edition of LOGIX India which was held in Dubai.
LOGIX was organized by the Federation of Indian Export Organizations (FIEO) and supported by Federation of Freight Forwarders Association in India (FFFAI), and the UAE’s National Association of Freight and Logistics (NAFL).
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The three-day logistics conference, attended by key logistics players from India and the UAE, concluded on Wednesday with a valedictory session at the India Pavilion at Expo 2020 Dubai, and was addressed by top officials from both the countries.
Those attending LOGIX India could utilize the event to work out ways and means to improve the prospects of the freight and logistics market.
Nadia Abdul Aziz, President of NAFL, said CEPA will boost the UAE’s logistics sector, which contributes more than 14 percent to Dubai’s GDP.
“With CEPA in place, Indian products can penetrate the UAE market through which they can enter the GCC, Commonwealth of Independent States (CIS), Africa and beyond,” she said.
Meanwhile, a Memorandum of Understanding (MoU) was signed between NAFL and FFFAI. The MoU covers mutual cooperation of the two federations of freight forwarders, exchange of knowledge, technology and exchange of students for internship.
“The MoU provides for trade support, empowerment of women and youth, skill development and training and exchange of students,” said Nadia.
Read more: UAE-India logistics corridor to boost bilateral trade suggested at Dubai meeting
