Page 246 - MOE ENGLISH PR REPORT - APRIL 2025 (Part 2)
P. 246
4/15/25, 4:28 PM Al Zeyoudi: UAE, India continue to reap benefits of CEPA
Speaking to the Emirates News Agency (WAM), Al Zeyoudi emphasised that the
reciprocal visits by the leaders of both countries reflect this joint vision and help
strengthen strategic collaboration. These high-level engagements continue to create
opportunities for building deeper partnerships, especially in trade and investment
between the business communities and private sectors of both nations.
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.
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