India-UAE Meeting Boosts Trade Relations Under CEPA

The second meeting of the Joint Committee under the India-UAE Comprehensive Economic Partnership Agreement (CEPA) celebrated the growth in trade between the two countries. Both nations are optimistic about reaching a USD 100 billion target in non-oil trade before 2030. The meeting, held in the UAE, was co-chaired by Ajay Bhadoo from India and HE Juma Al Kait from the UAE. Discussions focused on enhancing trade and addressing key issues to strengthen economic ties.

A review of progress since the first Sub-Committee Meeting on Trade in Goods highlighted achievements. A technical group of experts will be formed to facilitate trade data exchange. The group will work on harmonizing trade statistics for better data analysis. On Tariff Rate Quotas (TRQs), both countries aim to ensure UAE exporters benefit effectively. India revised its TRQ license allocation process for efficiency.

India requested the designation of the Indian Jewellery Exposition Centre in Dubai as a "Designated Zone" for concessional duties. The UAE will consider this after consultations. Discussions also included Sanitary and Phytosanitary measures and Technical Barriers to Trade. India asked the UAE to recognize the i-CAS Halal scheme to boost animal product exports. Both sides agreed to expedite pharmaceutical product registration and finalize a food safety MoU.

In services trade, both countries exchanged focal points and plan to hold a Sub-Committee Meeting soon. India emphasized the need for Mutual Recognition Agreements for professionals. An actionable plan for MRAs will be developed. India also raised concerns about increased imports of certain products, urging compliance with origin norms. The UAE agreed to examine these concerns.

The meeting concluded with plans for the next JC meeting in India, reflecting strong commitment to strengthening ties between India and the UAE.