Abu Dhabi [UAE], May 5: The UAE Ministry of Economy will mark the first anniversary of the UAE-India Comprehensive Economic Partnership Agreement (CEPA) at a special event during the Annual Investment Meeting (AIM) at the Abu Dhabi National Exhibition Center on 8th May. Called CEPA Beyond Trade, the event will showcase the positive impact of the agreement on commercial and cultural exchange between the two long-standing allies in the last 12 months.
The CEPA Beyond Trade program will feature a series of panel discussions with industry leaders from both the UAE and India, who will reflect on the main success stories of the partnership to date and also explore how the two sides are collaborating in areas such as food, fashion and the arts. The event will also include a street food festival, fashion display and live entertainment.
The UAE-India CEPA, which came into effect on 1st May, 2022, was the UAE's first ever bilateral trade deal and a cornerstone of the country's new foreign trade agenda, which sought deeper ties with strategic allies around the world to both accelerate economic recovery and secure vital supply chains. The deal removed or reduced tariffs on more than 80 percent of product lines, eliminated unnecessary barriers to trade, promoted investment flows into priority sectors, and offered a platform for SME cooperation and expansion. In 2022, UAE-India bilateral trade reached US$49 billion, a growth of 10 percent on the previous year.
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."
The CEPA Beyond Trade event is being supported by Abu Dhabi National Oil Company (ADNOC), who has partnered with the Ministry of the Economy to become a key sponsor of the program - which reflects the multilevel relationships that the UAE-India CEPA is helping to catalyze, not just in trade but in strategic investments. Also supporting the event are AIM, the Lulu Group, The Indian People's Forum (IPF) and Texmas.
CEPA Beyond Trade will take place at the Annual Investment Meeting on May 8 from 2pm. To register for the event, please visit www.aimcongress.com/registration
Source: Emirates News Agency