Bilateral trade between the UAE and India has risen by nearly 15 per cent over the past two years since the signing of the Comprehensive Economic Partnership Agreement (CEPA), according to a senior official from the UAE-India CEPA Council. Exports from the Emirates to India increased by over 7 per cent, while Indian exports to the UAE grew by a much higher 27 per cent during the same period, said Ahmed Aljeibi, Director of the UAE-India CEPA Council.
Aljeibi reported that non-oil trade between the UAE and India saw a 20 per cent rise in the 2023-2024 financial year, demonstrating CEPA’s transformative potential. “These impressive figures highlight the agreement’s success,” Aljeibi stated at a celebration marking CEPA’s second anniversary, organised by the Indian Business and Professional Council Dubai.
Aljeibi also noted that CEPA is one of India’s most significant free trade agreements, reflecting the complementary nature of the two economies. Deputy Consul General of India, Yatin Patel, mentioned that the evolving trade relationship has strengthened and diversified supply chains, shifting from an energy focus to various other sectors.
Patel added that increased business interactions have facilitated technology transfers and advancements in skill development. The rise of new sectors has further supported trade facilitation and talent growth. The event also featured a panel discussion on CEPA’s benefits, with panellists examining sector-specific impacts, technology transfers, and skill development advancements.
