Business leaders react to landmark UAE-India trade deal

Business leaders react to landmark UAE-India trade deal

Abu Dhabi-UAE: – Business leaders from the UAE’s largest private sector companies across defence, technology, healthcare and manufacturing have lauded the country’s first bilateral trade agreement, which promises to unleash a new era of economic opportunity with India.

The UAE-India Comprehensive Economic Partnership Agreement (UAE-India CEPA) is a historic trade deal that will transform bilateral economic and investment ties, improve market access and unlock new opportunities in strategically important industries, such as aviation, agriculture, construction, renewables, petrochemicals and pharmaceuticals.

His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, Deputy Supreme Commander of the UAE Armed Forces and Chairman of the Executive Council, and Indian Prime Minister Narendra Modi witnessed the signing of the agreement on 18 February. The partnership is anticipated to increase bilateral non-oil trade to more than $100 billion within five years, creating enormous opportunities for businesses in both countries. It is also expected to create 140,000 highly skilled jobs in the UAE.

Leading businesses across the Emirates voiced their strong approval for the deal after it was signed in New Delhi by His Excellency Abdulla bin Touq, UAE Minister of Economy, and His Excellency Shri Piysuh Goyal, India’s Minister of Textiles, Commerce and Industry, Consumer Affairs,