The UAE Ministry of Economy has organized a special event called CEPA Beyond Trade to celebrate the first anniversary of the UAE-India Comprehensive Economic Partnership Agreement (CEPA).
The event will take place during the Annual Investment Meeting (AIM) at the Abu Dhabi National Exhibition Center on May 8th and will highlight the positive impact of the agreement on commercial and cultural exchange between the two nations over the past 12 months.
CEPA Beyond Trade will feature panel discussions with industry leaders from both the UAE and India who will discuss the successes of the partnership and collaborations in various areas such as food, fashion, and the arts. The event will also include a street food festival, fashion display, and live entertainment, according to WAM.
The UAE-India Comprehensive Economic Partnership Agreement (CEPA) was implemented on May 1st, 2022, and marked the UAE’s first bilateral trade agreement. It was a key component of the UAE’s new foreign trade strategy, aimed at forging closer relationships with strategic partners worldwide to boost economic recovery and secure vital supply chains.
The CEPA facilitated the removal or reduction of tariffs on more than 80 percent of product lines, eliminated trade barriers, promoted investment flows into priority sectors, and provided a platform for SME cooperation and expansion. In 2022, UAE-India bilateral trade increased by 10 percent, reaching $49B.
H.E. Dr. Thani Al Zeyoudi believes that the UAE-India CEPA will be regarded as not only a turning point in bilateral relations but a model for international collaboration in the post-Covid period. “The UAE-India CEPA is a milestone for both nations, establishing a hugely important platform for long-term, sustainable growth by increasing market access for our respective exporters, industrialists and investors. Most importantly, though, the deal has consolidated a friendship of inestimable value to the UAE and opened up new pathways for economic and cultural collaboration. The UAE-India CEPA is an exciting alliance for growth – one that will bind our nations ever closer together and generate limitless opportunities for our people.”
Abu Dhabi National Oil Company (ADNOC) has partnered with the Ministry of the Economy to become a significant sponsor of the CEPA Beyond Trade event, which will showcase the multilevel relationships that the UAE-India CEPA has fostered, not just in trade but also in strategic investments. The event is also supported by AIM, the Lulu Group, The Indian People’s Forum (IPF), and Texmas. CEPA Beyond Trade will occur on May 8th at the Annual Investment Meeting from 2 pm.
