Page 416 - MOE ENGLISH PR REPORT - SEPTEMBER 2024 (Part 2)

pharmaceutical research. This session aims to harness CEPA's benefits for advancing medical
innovations.

Another session will delve into AI and emerging technologies. It will examine how these tools can be
developed further and identify sectors that could benefit from their application. This discussion is
crucial for both countries as they seek to enhance their technological capabilities.

The forum also includes a session named "Renewable Energy and Sustainability: Pioneering the
Green Revolution." This segment will showcase the UAE’s efforts in delivering wind, solar, and
geothermal solutions globally. It underscores the importance of sustainable energy practices in
today's world.
Additional sessions will address opportunities in logistics and agricultural technology. Discussions
will cover sustainable farming practices that can benefit both nations. These topics are vital for
ensuring food security and efficient supply chain management.

The UAE-India Comprehensive Economic Partnership Agreement was a significant step in
strengthening bilateral ties. Implemented in May 2022, it has reduced or removed tariffs on over 80
percent of products. This agreement has also eliminated unnecessary trade barriers and
harmonised customs regulations.

The forum builds on a consistent rise in bilateral non-oil trade between the two countries. In the
first half of 2024 alone, trade reached US$28.2 billion—a 9.8 percent increase compared to the
same period in 2023. This growth comes despite a global decline in trade during H1 2024.
Dr. Thani bin Ahmed Al Zeyoudi highlighted this achievement by saying that these figures
demonstrate the benefits of CEPA. He noted that it has driven industrial output, employment, and
global competitiveness while providing a platform for future collaboration.

The panels at this forum reflect diverse opportunities available to the private sector. They aim to
foster discussions that can lead to meaningful partnerships between businesses from both
countries.
This event marks another milestone in UAE's foreign trade agenda aimed at strengthening ties with
strategically important nations worldwide. The collaborative efforts showcased at this forum are
expected to yield long-term benefits for both economies.

https://www.onearabia.me/business/uae-india-business-forum-aims-to-strengthen-trade-ties-
011-065851.html