UAE-India CEPA Council, CII holds roundtable for Chennai exporters to promote economic partnership

New Delhi [India], February 28 : The UAE-India CEPA Council (UICC), in collaboration with the Confederation of Indian Industry (CII), held a business roundtable for Chennai-based exporters aimed at promoting the UAE-India economic partnership.

The roundtable featured more than 20 participants from various sectors like logistics, automotives, agriculture, and healthcare, the UAE Embassy in New Delhi announced in a press release. The roundtable provided a valuable platform for business-owners to discuss opportunities to benefit from the UAE-India Comprehensive Economic Partnership Agreement (CEPA), and the bilateral strategic partnership more broadly.

During the roundtable, the participants held discussions on various economic, trade, and investment matters. Colonel Shubhransh Srivastav, Vice President, Corporate Affairs, DP World provided participants with an overview of the recently launched Bharat Mart, which is set to boost Indian SME exports to the UAE and the greater MENA region.

During the roundtable, Sameer Nawani, Chief Representative in India for the Dubai Chamber of Commerce and Industry highlighted opportunities for Indian businesses to invest in Dubai, according to the press release.

Speaking on the occasion, UAE-India CEPA Council Director Ahmed Aljneibi stated, "We are excited to host this business roundtable in Chennai, a city known for its vibrant economic sectors. The CEPA Council is committed to fostering closer ties between UAE and Indian businesses, and events like these provide an excellent platform for meaningful discussions and collaboration," according to UAE Embassy in Delhi press release.

"The significant benefits afforded by the CEPA, including preferential market access and the facilitation of MSME expansion, underscore its role in catalysing cooperation and strengthening cultural, political, and economic ties between our nations. We look forward to building upon this momentum and continuing to drive impactful initiatives that will further deepen the UAE-India economic partnership," he added.

Highlighting the ties between India and UAE, CII National Council member TT Ashok said, "The UAE is our friend and a strategic partner, which is echoed in the strong rapport between the leaders of our nations. From signing the CEPA in record-breaking time to working towards reaching our goal of USD 100 billion, the sky is the limit for our collaborative potential."

The roundtable also saw remarks by Prasanna Rajagopalan, CII-Co Chairman, Global Linkages Sub Committee, CII Southern Region, and an open discussion among participants on the opportunities to increase engagement between the UAE and Indian business sectors, and on key measures undertaken to ease regulatory obstacles for importers and exporters.

During the roundtable, the combined efforts made by the UAE and Indian governments under the CEPA to facilitate trade, boost innovation and investment, simplify regulations and policies, and eliminate or reduce tariffs were discussed. These measures have been important for supporting the UAE-India partnership.

In the press release, UAE Embassy in Delhi stated, "The CEPA stands as a cornerstone of the enduring and mutually beneficial relationship between the UAE and India. The UICC is dedicated to fostering open dialogue, facilitating tangible cooperation, and accelerating trade ties between UAE and Indian businesses to cultivate mutual growth and prosperity."

Earlier in 2022, India and United Arab Emirates signed a Comprehensive Economic Partnership Agreement (CEPA). CEPA was signed during a meeting between the Union Minister of Commerce and Industry Piyush Goyal and UAE delegation led by Minister of Economy, Abdulla bin Touq Al-Marri and Minister of State for Foreign Trade Thani bin Ahmed Al Zeyoudi.

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