JAFZA cements growing trade relationship with India following CEPA launch

JAFZA cements growing trade relationship with India following CEPA launch

DUBAI – DP World’s Jebel Ali Free Zone (Jafza) is supporting the growth of India – UAE bilateral trade relations by outlining its efforts to drive towards the $100 billion goal for non-oil trade over the next five years. Plans for growth were highlighted at a Confederation of Indian Industry (CII) event in Delhi, India, on 11th May, where Abdulla Bin Damithan, CEO & Managing Director, DP World UAE & Jafza, addressed an audience on why ‘Dubai is India’s Gateway to the World‘.

Following the launch of Comprehensive Economic Partnership Agreement (CEPA), which came into force last year, the exclusive event outlined the major opportunities for Indian businesses in the UAE, which include lower or eliminated tariffs and an open and non-discriminatory environment for cross-border trade. As per IHS Markit, the bilateral trade between India and the UAE increased from $68 billion in 2021 to $84 billion in 2022, registering a year-on-year growth of 23%. Jafza currently serves over 9,500 companies from 130 countries, with the Jafza-India route handling 19% of non-oil trade between the UAE and India, making it India’s largest supporting ecosystem for trade.

With its India-UAE Bridge initiative, Jafza aims to reduce time and cost of shipping goods between