A high-profile UAE delegation led by Abdullah bin Touq al-Marri, Minister of Economy, is visiting India to explore prospects of joint investment and cooperation within the framework of the recent UAE-India Comprehensive Economic Partnership Agreement (CEPA).
Others in the delegation are Dr. Ahmad Belhoul al-Falasi, Minister of State for Entrepreneurship and SMEs; Dr. Ahmed al-Banna, UAE Ambassador to India; Juma Mohammed al-Kait, the Assistant Under-Secretary for Foreign Trade Affairs, Ministry of Economy; Faisal al- Hammadi, Acting Assistant Under-Secretary for Entrepreneurship and SMEs; Abdulla Mohamed Almazrui, Chairman of the Abu Dhabi Chamber of Commerce and Industry; Osama Amir Fadhel, Assistant Under-Secretary for the Industrial Accelerators Sector at Ministry of Industry and Advanced Technology. Along with these senior officials will be over 80 representatives of the government and private sectors.
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The visit, according to Emirates New Agency (WAM), aims to lay down sustainable mechanisms that empower the business community in both countries to maximize their benefit from the CEPA signed by the two countries in February 2022 and came into effect early this month.
The UAE delegation’s visit will enable both sides to familiarize with the facilities and services that the CEPA will provide to companies and businesses the opportunities for building new sustainable partnerships that will leverage the UAE-India relations to greater heights across various sectors.
They will focus on priority sectors for cooperation that remain key dynamic drivers for boosting ties: industrial production, civil aviation, financial services, ICT, food security, transport and infrastructure, logistical services, agri-technology, entrepreneurship, and other future economic areas.
Doubling non-oil trade
The visiting delegation will hold a series of discussions with Indian ministers, senior government officials, and private sector leaders on the best ways to facilitate and double non-oil trade exchange under the CEPA.
The delegation will hold expanded meetings with leading Indian businessmen, entrepreneurs, and start-ups in New Delhi.
In Mumbai, the Emirati-India public and private representatives will gather for the UAE-India Economic Partnership Summit.
The UAE's delegation includes representatives of 41 government and private entities, most notably: the Ministry of Economy, Ministry of Foreign Affairs and International Cooperation, Ministry of industry and Advanced Technology, General Civil Aviation Authority, Abu Dhabi Department of Economic Development, Abu Dhabi Chamber of Commerce and Industry, Dubai Department of Economy and Tourism, DMCC, the Sharjah Investment and Development Authority (Shurooq), and Ras Al Khaimah Economic Zones (RAKEZ), the Department of Economic Development in Fujairah, the UAE International Investors Council, Abu Dhabi Ports Group, Masdar, DP World, Wizz Air Abu Dhabi, flydubai, Lulu Group International, Sharaf Group, Kanoo Group, Silal Company, and others.
India is the second-largest trading partner of the UAE in 2021. It accounted for 9 percent of the total volume of the UAE’s trade with the world, and 13 percent of the UAE’s non-oil exports, while the non-oil foreign trade between the two countries in 2021 reached Dh 165 billion, ($45 billion) a growth of 66 percent, compared to 2020.
Read more: India, UAE eye $100 bln in annual trade after signing trade pact
