UAE – India CEPA Council (UICC) website launched, Dr. Thani bin Ahmed Al Zeyoudi spoke about the wealth of prospects for the respective private sectors, who now benefit from lower tariffs, better market access, and more investment pathways
FinTech BizNews Service
Mumbai, January 11, 2024: “For India-UAE relationship, even the sky is not the limit. Now we are talking to each other about space exploration and a partnership in the field of space. That is the kind of expansion we are seeing in the India-UAE partnership be it food security, education etc,” stated Piyush Goyal, Minister of Commerce & Industry, Consumer Affairs, Food & Public Distribution and Textile, Government of India at the Vibrant Gujarat Global Summit.
The Summit was addressed by senior dignitaries such as Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, Ministry of Economy, United Arab Emirates; Bhupendra Patel, Chief Minister of Gujarat,
Mr Piyush Goyal spoke at length about the strong India-UAE bilateral relations, which are only getting stronger. He spoke about exploring more innovative ways of partnership that will transcend borders. Mr Goyal lauded HE Dr Thani for his relentless efforts, which resulted in the fastest executed bilateral agreement Comprehensive Economic Partnership Agreement (CEPA) between India and UAE.
Dr. Thani bin Ahmed Al Zeyoudi spoke about the wealth of prospects for the respective private sectors, who now benefit from lower tariffs, better market access, and more investment pathways. He mentioned that since CEPA there has been an increase of 16% in trade between the countries during May 2022 - March 2023.
The Chief Minister of Gujarat said that the India-UAE relations have expanded beyond trade to tourism, talent and tradition. He also said that Gujarat's port led development, ease of logistics and cargo handling capacity have become the basis of India-Gujarat-UAE partnership.
Chief Minister Shri Bhupendra Patel held a meeting with Dr Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, U.A.E during the Vibrant Gujarat Global Summit 2024, to discuss collaboration between Gujarat and U.A.E. During the meeting, the Chief Minister expressed interest in advancing collaboration on green hydrogen technology and desalination plants between the U.A.E and Gujarat.
Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade of the United Arab Emirates, expressed that, the U.A.E has been a partner country at the Vibrant Gujarat Global Investor Summit since 2017, and the potential for UAE investors to invest in Gujarat is growing exponentially.
The Chief Minister remarked that Prime Minister Shri Narendra Modi, through the Vibrant Summit, has provided a significant opportunity for overall development, realizing the vision of “Ek Bharat Shreshtha Bharat.” During the summit, U.A.E industry investors were welcomed and encouraged to join hands in collaborative development efforts, fostering a platform for shared growth and progress.
In the course of the meeting, the Chief Minister emphasised that, in addition to existing projects such as Gift City, Dholera Sir, and the Diamond Bourse in Gujarat, there exists considerable potential for substantive collaborations in sectors such as renewable energy and green hydrogen.
The business delegation members, accompanying the U.A.E Minister, praised the proactive approach of the state government for supporting their industries in Gujarat.
The Chief Minister extended an invitation to the Minister of Foreign Trade of the U.A.E for an extended visit to Gujarat, expressing the hope that they would explore opportunities within the state's tourism sector. In a reciprocal gesture, the U.A.E Minister invited the Chief Minister, Shri Bhupendra Patel to visit the U.A.E.
During the meeting, the Chief Minister emphasized the substantial opportunities available for U.A.E companies in key sectors such as railways, roads, ports, and shipping. Deliberations regarding potential collaborations in Gift City were also held. The meeting aimed to strengthen the robust bond of friendship and foster deeper bilateral relations between Gujarat and the U.A.E, not only economically but also through multifaceted discussions. The meeting was attended by the Chief Minister's Additional Chief Secretary Shri Pankaj Joshi, Additional Chief Secretary of the Industries Department Shri S.J Haider, along with other senior officials.
R Dinesh, President, CII and Chairman, TVS Supply Chain Solutions Ltd, said that India and UAE together are shaping a thriving, sustainable, and inclusive future for the world by leveraging our shared legacy, embracing innovation, and forging stronger partnerships. He added that services trade expansion, India-Middle East-Asia Corridor (IMEC) development, energy projects (renewable, hydrogen & EV charging. infrastructure), start-ups and addressing global challenges such as climate change, sustainability, and food security could be areas of potential cooperation.
At the Summit, the UAE – India CEPA Council (UICC) website was launched on the occasion by the dignitaries, and a report on the CII India-UAE Start-Up Initiative: Unlocking Opportunities: India- UAE Start-Up Ecosystem Convergence was released.
