UAE-India CEPA driving industrial output, heralding new era of prosperity: Minister

UAE-India CEPA driving industrial output, heralding new era of prosperity: Minister

ABU DHABI, 8th May 2023 (WAM) – Dr. Thani bin Ahmed Al Zeyoudi, the Minister of State for Foreign Trade, shared the latest UAE-India trade figures, highlighting that the value of bilateral non-oil trade between the two nations reached US$45.5 billion in the first 11 months of the UAE-India Comprehensive Economic Partnership Agreement – a 6.9 percent increase from the previous 12-month period, despite the downturn in global trade in Q3 and Q4, 2022.

Speaking during the launch of CEPA Beyond Trade, a special event held on the opening day of the Annual Investment Meeting (AIM) in Abu Dhabi to celebrate the first anniversary of the UAE-India CEPA, the minister also stated that bilateral trade surged ahead in Q1, 2023, climbing 24.7 percent on the previous quarter, with UAE non-oil exports to India climbing an impressive 33 percent.

Dr. Al Zeyoudi said: “One of the central goals of the UAE-India CEPA is to increase the flow of goods and services between our nations – and, by doing so, stimulate key export sectors, drive industrial output and kick-start an exciting new era of prosperity. These figures underline the pace of our progress. The UAE and India have created an alliance for growth, a