Page 234 - MOE ENGLISH PR REPORT - APRIL 2025 (Part 2)

He noted that the official visit of H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum,
Crown Prince of Dubai, Deputy Prime Minister, and Minister of Defence, to India comes as the two
friendly countries approach the third anniversary of the implementation of their Comprehensive
Economic Partnership Agreement (CEPA), which came into effect on 1st May 2022. This agreement
was the first of its kind signed by the UAE under its CEPA programme and the first to be
implemented—highlighting the long-standing and robust ties between the UAE and India.

Al Zeyoudi pointed out that the UAE and India continue to reap tangible benefits from the CEPA,
which over the past three years has led to significant growth in bilateral trade and investment flows.
Non-oil trade between the two countries grew by 20.5%, reaching over AED240 billion in 2024,
compared to AED199.3 billion in 2023. This growth underscores the vast opportunities in trade and
investment between the two nations.

India also ranked as the top destination for UAE’s non-oil exports in 2024, accounting for 13.5% of
total non-oil exports—a remarkable year-on-year increase of 75.2% compared to 2023.

He further explained that both nations play a vital role in each other’s economies. India is the UAE’s
second-largest global trading partner after China, while the UAE is India’s third-largest trading
partner, following China and the U.S.

India is also the second-largest investor in the UAE, holding a 6.3% share with investments totaling
nearly US$10 billion by the end of 2022. Conversely, the UAE has cumulative direct investments in
India of around US$23 billion by the end of 2024—making it India’s seventh-largest global investor
and the top Arab investor.

The value of UAE investments flowing into India between April 2022 and December 2024 reached
US$10.4 billion, coinciding with the implementation of the CEPA.

https://www.wam.ae/en/article/bj3b4yb-zeyoudi-uae-india-continue-reap-benefits-cepa