Indian Economy News

India-UAE Convene Third CEPA Joint Committee Meeting; Bilateral Trade Crosses US$ 100 billion

India and the United Arab Emirates (UAE) convened the third meeting of the Joint Committee under the India-UAE Comprehensive Economic Partnership Agreement (CEPA) in New Delhi, co-chaired by Additional Secretary, Department of Commerce, Mr. Ajay Bhadoo, and Assistant Undersecretary for International Trade Affairs, UAE, Mr. Juma Al Kait. Both sides welcomed the strong momentum in bilateral trade, which crossed Rs. 8,92,400 crore (US$ 100 billion) in FY25, marking a robust 19.6% growth and reinforcing the UAE’s status as one of India’s leading trading partners. The Joint Committee undertook a detailed review of CEPA implementation, covering market access, data sharing, Gold Tariff Rate Quota (TRQ) allocation, anti-dumping issues, services trade, Rules of Origin, and Bureau of Indian Standards (BIS) licensing, with India outlining its move to allocate Gold TRQ through a transparent competitive bidding process.

The discussions reaffirmed the shared commitment to expand non-oil and non-precious metals trade towards the Rs. 8,92,400 crore (US$ 100 billion) target by 2030, alongside strengthening regulatory cooperation in pharmaceuticals and streamlining Certificates of Origin and BIS coordination. Both sides also agreed to expedite the signing of the Memorandum of Understanding (MoU) on Food Safety and Technical Requirements between the Agricultural and Processed Food Products Export Development Authority and the UAE Ministry of Climate Change and Environment. The meeting concluded with a consensus on enhancing trade facilitation, improving CEPA utilisation, advancing data-sharing mechanisms, and convening the Services Subcommittee, underscoring a continued focus on deepening commercial integration and broadening market opportunities.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.