South Africa must slash red tape to close energy gap: ANC

  • Date: 14-May-2022
  • Source: The Gulf…
  • Sector:Oil & Gas
  • Country:UAE
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South Africa must slash red tape to close energy gap: ANC

Local News, News, Uncategorized

Abu Dhabi / WAM

Mohamed Ali Al Shorafa, Chairman of Abu Dhabi Department of Economic Development (Added), has said that the UAE and India are exploring mutual business opportunities with an unwavering commitment to further build on bilateral economic and trade relations.

As part of his participation in the state delegation visiting India, Al Shorafa noted that the Comprehensive Economic Partnership Agreement (CEPA) – signed recently between the two nations – will guide the next phase of growth and development for both countries’ economies.

Speaking to the Emirates News Agency (WAM), he added that India is one of Abu Dhabi’s and the UAE’s top trade partners, and with the CEPA covering 11 service sectors and over 110 sub-sectors, it is expected to boost trade benefits further, increasing the UAE imports from India by $14.3 billion by 2030.

“India based businesses and regional markets will benefit from the resulting ripple effect, affirming the UAE’s leading reputation as a gateway to the Middle East and Africa,” Added chairman stated.

In this regard, he commented, “We encourage Indian and UAE businesses to benefit from opportunities provided by the CEPA. In