UAE-India Cepa Council signs agreement with Indian business organization – News

The UAE-India Cepa Council (UICC) and the Indian Chamber of Commerce (ICC) have joined forces to strengthen economic and trade ties between the UAE and India. The signing of a memorandum of understanding (MoU) on Thursday marked the beginning of a strategic partnership aimed at enhancing bilateral economic cooperation.

In a bid to raise awareness about the potential of the UAE-India bilateral economic partnership, the UICC and the ICC will collaborate on various initiatives. The MoU establishes a comprehensive partnership focused on promoting the UAE-India Cepa and highlighting opportunities for companies in both countries to leverage the agreement. Additionally, the two organizations will work towards mobilizing key stakeholders from the private sector to support increased economic, investment, and trade engagement between the UAE and India.

Abdulnasser Alshaali, the UAE ambassador to India, expressed his enthusiasm for the collaboration, emphasizing the commitment to fostering an environment conducive to mutual investments, technological collaborations, and people-to-people exchanges. The partnership aims to achieve the objectives of boosting trade volumes, implementing beneficial trade policies, and creating opportunities for economic growth between India and the UAE.

Dr. Rajeev Singh, director-general of the Indian Chamber of Commerce, highlighted the potential of the partnership to unlock new avenues for businesses in both nations. By combining their strengths, the UICC and the ICC aim to drive sustainable economic growth and capitalize on the opportunities presented by the Cepa.

The UICC, established in early 2024, has been instrumental in enhancing economic, investment, and trade ties between the UAE and India. The council’s efforts have led to a significant increase in bilateral trade, with sectors such as gems and jewellery, pharmaceuticals, and fruits and vegetables experiencing substantial growth. The positive impact of the Cepa is evident in the billions of dollars in investments it has catalyzed and the increased business confidence it has fostered across various industries.

The proactive approach taken by the UAE-India Cepa Council underscores its dedication to sustaining and expanding the economic partnership between the two nations. Through organizing events and initiatives that promote deeper business ties and mutual understanding, the council is committed to advancing the goals of the Cepa and fostering a diversified economic engagement between the UAE and India.

Overall, the MoU between the UICC and the ICC sets the stage for a fruitful collaboration that will benefit businesses in both countries and contribute to the continued growth of the UAE-India economic partnership.