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India-UAE CEPA celebrates first anniversary

The CEPA agreement was negotiated in just 88 days which is a turning point for India & UAE bilateral relations.

India-UAE CEPA 1st anniversary celebration (Image - Twitter @/IndemAbudhabi)

The UAE Ministry of Economy hosted a special event on May 8th, Monday, during the annual Investment Meeting (AIM), at the National Exhibition Center in Abu Dhabi to commemorate the Comprehensive Economic Partnership Agreement (CEPA) between the UAE and India.

The event, titled ‘CEPA Beyond Trade’, highlighted the positive effects of the agreement on trade and cultural interchange between the two longtime allies over the previous 12 months. Rajesh Kumar Singh, Secretary, of the Department for Promotion of Industry and Internal Trade (DPIIT) and Thani bin Ahmed Al Zeoudi, UAE Minister of State for Foreign Trade, jointly inaugurated the event.

In his speech, Singh emphasized how the ground-breaking India-UAE CEPA, which was negotiated in just 88 days, has become a crucial turning point in the bilateral economic relations between the two nations.

At the annual event, he opened the Kerala Pavilion as part of the CEPA celebrations. Meetings were held with Mubadala, the major UAE investor in India, and the senior management of the Abu Dhabi Investment Authority.  

He requested both firms to explore new sectors for investment in India, particularly the renewable and digital industries, as he welcomed the spike in investments from the UAE to India. With an estimated 18 billion dollars in investments, the UAE is presently the seventh largest investor in India.

Indicating the importance India places on its tight partnership with the UAE, Secretary, of DPIIT's travel to the UAE is his first official tour since taking office in April 2023.

The anniversary event featured culinary and fashion pavilions, the sharing of success tales of the historic commercial ties between India and the UAE, and panel discussions on potential future areas of cooperation.