A webinar was organized by Dubai Chamber of Commerce to highlight UAE-India free trade deal (CEPA).
One of the three chambers under Dubai Chambers, Dubai Chamber of Commerce, recently conducted a webinar, which threw light on the landmark UAE-India Comprehensive Economic Partnership Agreement (CEPA), and the various improvements in economy that are expected to be created out of this free trade deal.
This webinar was attended by over 270 participants and was held in partnership with the UAE Embassy In India, Dubai Economy and Tourism, the Associated Chambers of Commerce and Industry of India (ASSOCHAM) and the Indian Business & Professional Council (IBPC).
CEPA came into force in May 2022. It is expected to provide an added boost to 90% of the imports and exports between the two countries. The trade agreement is also assumed to aid and benefit tourism exchange and bilateral investment.
During the event, the Director of International Offices, Dubai Chamber of Commerce, Omar Khan, described how CEPA is assumed to bolster and expand the economic cooperation of UAE-India to new and emerging and innovation focused sectors like Blockchain, Fintech and AI.
He also mentioned that the chamber is exploring new business opportunities that are appearing on the horizon, as CEPA not only changes the dynamics of UAE-India bilateral trade but also builds various new bridges between the two communities of business.
In a special address to participants, the Ambassador of India to the UAE, Sunjay Sudhir, stated that the force of this agreement are comprehensive and strategic outcomes. CEPA flows from this particular commitment to enhance and boost trade and deepen the economic ties. UAE keeps developing its policies for the future of the economy and interests of the business communities.
CEPA is considered UAE’s first bilateral trade agreement that has been signed with India. This settlement is predicted to increase the total value of bilateral trade in goods to over $100 billion and $15 billion for trade in services within five years.
The article is originally published in Blockchain Group