1st Meeting of the Joint Committee (JC) of India-UAE
1st Meeting of the Joint Committee (JC) of India-UAE Comprehensive Economic Partnership Agreement (GS Paper 2 – International Relations & GS Paper 3 – Economy)
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Key Highlights
Operationalization of established committees, sub-committees and technical council under the India-UAE CEPA
India and UAE agree to more than double the trade in non-petroleum products to USD 100 billion by 2030; from the USD 48 billion at present
Creation of a new sub-committee on Trade in Services.
UAE-India CEPA Council (UICC) was established as a B2B collaboration structure, with an emphasis on MSMEs and start-ups.
India’s exports to the UAE saw a stunning 12% increase, hitting USD 31.6 billion in 2022–2023.
Initiatives like
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- Virtual Trade corridors.
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- Potential set-up of offices of the Abu Dhabi Investment Authority in GIFT City, Gujarat .
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- UPI partnership and the potential development of an efficient system for direct Rupee-Dirham trade.
Union Commerce Minister said that India and the United Arab Emirates (UAE) have agreed to more than double the trade in non-petroleum products by 2030, read a Ministry of Commerce & Industry press release.
India and UAE successfully held the 1st Meeting of the Joint Committee (JC) of the India-UAE CEPA. During the JC, both sides, inter-alia, reviewed the bilateral trade under the CEPA, agreed to operationalise the established committees/sub-committees/technical council under the CEPA, agreed on mutual exchange of preferential trade data on a quarterly basis for effective monitoring of the CEPA.
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