Taking local business global with the historic UAE-India deal

Taking local business global with the historic UAE-India deal

The United Arab Emirates and India have embarked on a historic new era of collaboration, cooperation and exchange. The Comprehensive Economic Partnership Agreement (CEPA) is a milestone in efforts to establish stronger relationships with like-minded nations and reflects our deep, strategic ties with one of the world’s fastest-growing markets. For the thousands of SME that form the backbone of our economy, it also represents an exciting new era, one that will fuel startup growth by unleashing the spirit of entrepreneurship in both countries and reducing costs of goods movement between the economies. Our nation was built on the foundations laid by entrepreneurial traders who transformed our country into a vital gateway for goods and services to flow from East to West. Today, small-to-medium-sized enterprises are fundamental to our modern, knowledge-based economy. The sector accounts for 95% percent of the companies operating here in the UAE and contributes more than 50% of the UAE’s GDP . As a country, we are regarded as the world’s best place to start a new business, ranking first worldwide in the latest Global Entrepreneurship Index, outperforming major entrepreneurship economies such as the US, UK, Netherlands, Singapore and South Korea. Furthermore, in 2021, UAE based start-ups