UAE-India bilateral non-oil trade surges 7% to hit $45.5 in CEPA’s 11 months

UAE-India bilateral non-oil trade surges 7% to hit $45.5 in CEPA’s 11 months

The minister of state said that the trade figures have been achieved amid a sharp decline in global trade in the third and fourth quarters of last year

Published: Mon 8 May 2023, 4:50 PM

The UAE-India bilateral non-oil trade has increased by 7 per cent to reach $45.5 in 11 months since Comprehensive Economic Partnership Agreement came into effect on May 1, 2022, a minister revealed in Abu Dhabi.

Dr Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, announced the latest figures while marking the first anniversary of the UAE-India CEPA at a special event during the opening day of Annual Investment Meeting (AIM).

“One of the central goals of the UAE-India CEPA was 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."

"The latest figures, which I’m revealing today for the first time, underline the pace of our progress. Between May 1, 2022 and March 31, 2023 – the first 11 months of the CEPA, bilateral non-oil trade reached 45.5 billion dollars. That is a 7 percent increase on the corresponding period 12 months earlier,” the minister