The roundtable discussed ways to enhance bilateral relations within the framework of the UAE-India CEPA and explored enhanced market access offers….reports Asian Lite News
The UAE Ministry of Economy, in cooperation with the Abu Dhabi Chamber of Commerce and Industry, has hosted a delegation of more than 20 Indian CEOs organised by the Confederation of Indian Industry (CII).
Headed by Piyush Goyal, India’s Minister of Commerce and Industry, the delegation participated in a roundtable with Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, and leading figures from the UAE business community. The roundtable discussed ways to enhance bilateral relations within the framework of the UAE-India Comprehensive Economic Partnership Agreement (CEPA), which came into force in May 2022, and explored further opportunities its enhanced market access offers.
In his welcoming remarks, Dr. Al Zeyoudi commended the growing ties between the UAE and India and, with the CEPA now in place, affirmed the UAE’s commitment to working alongside policymakers and private sector leaders in both countries to deliver long-term prosperity and growth.
“The UAE-India relationship is the strongest it has been since diplomatic relations were established more than 50 years ago. The landmark Comprehensive Economic Partnership Agreement has brought our economies closer together, boosting bilateral trade and investment and creating a powerful platform for collaboration. Face-to-face meetings such as this are critical to fully realising the potential of the deal, sparking conversations and establishing networks that evolve into meaningful, mutually beneficial partnerships. I look forward to continuing my work with Piyush Goyal and ensuring the CEPA delivers tangible results long into the future,” he said.
For his part, Piyush Goyal said, “The UAE-India CEPA has played a prominent role in consolidating economic and trade relations between our two nations, driving further growth and prosperity and creating new enablers for the private sector.”
Abdulla Mohamed Al Mazrouei, Chairman of the Abu Dhabi Chamber, highlighted the meeting’s alignment with the Chamber’s objectives of facilitating private sector cooperation between the UAE and India.
He said, “The bonds that exist between the UAE and India in various economic sectors have been fortified by the implementation of the Comprehensive Economic Partnership Agreement. The UAE is now India’s third-largest trading partner and the second-largest destination for India’s exports, while India is the second-largest trading partner for the UAE. Building on these achievements through the adoption of future-facing initiatives that enhance market access, promote entrepreneurship and empower SMEs to establish and scale in our respective economies will further strengthen our economic partnership.”
Ahmed Khalifa Al Qubaisi, CEO of the Abu Dhabi Chamber, emphasised the significance of meeting as a platform for discussing opportunities for joint cooperation in a broad spectrum of economic, investment and trade sectors.
He said, “The meeting with the Confederation of Indian Industry comes as part of the Abu Dhabi Chamber’s efforts to enhance cooperation with all local and international entities to enhance the prosperity of the economic, investment and trade sectors at the local, regional and international levels, and to keep pace with the rapid developments witnessed by the global economy.
“The meeting reflects our dedication to organising business linking events between domestic and international entities, which serve to nurture cooperation, promote economic growth, and facilitate trade, investments, and collaboration opportunities within the private sector,” he added.
The roundtable was also attended by R. Dinesh, President of the Confederation of Indian Industries, Yousuf Ali Musliam, Second Vice Chairman of the Abu Dhabi Chamber and Chairman of Lulu Group International, as well as UAE government and private-sectors representatives.