Page 249 - MOE ENGLISH PR REPORT - APRIL 2025 (Part 2)

4/15/25, 4:29 PM Al Zeyoudi: UAE, India Continue To Reap Benefits Of CEPA - UrduPoint
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.

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