Piyush Goyal will also hold bilateral meetings with officials and business leaders to strengthen the strategic partnership and enhance economic cooperation, which has nearly doubled bilateral trade since the CEPA's implementation in May 2022.
New Delhi [India]: Union Commerce and Industry Minister Piyush Goyal will be on a two-day visit to United Arab Emirates (UAE) from September 18 during which he will co-chair the 13th India-UAE High Level Task Force on Investments (HLJTFI) along with Sheikh Hamed bin Zayed Al Nahyan, Managing Director of the Abu Dhabi Investment Authority (ADIA). The meeting will review progress on the India-UAE Comprehensive Economic Partnership Agreement (CEPA), Double Taxation Treaty, and UAE-India Central Bank matters, according to a Ministry of Commerce and Industry release. Both sides will also explore opportunities for investment in key sectors, including maritime and space, that hold strong potential for growth.
What Lies Ahead?
During the visit, Goyal will also co-chair the UAE-India Business Council (UIBC) roundtable with Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of Foreign Trade, and interact with CEOs of leading Indian and UAE companies. He will also hold bilateral meetings focused on strengthening trade, investment, and cooperation across priority sectors," the release said. The Union Minister is expected to meet Sheikh Tahnoun bin Zayed Al Nahyan, National Security Advisor of the UAE and Chairman of the International Holding Company (IHC); Ahmed Jasim Al Zaabi, Chairman of the Abu Dhabi Department of Economic Development (ADDED); and Syed Basar Shueb, Managing Director of IHC, along with other key private sector stakeholders. The 12th HLJTFI, held in Mumbai in October 2024, saw the ratification of the India-UAE Bilateral Investment Treaty signed during Prime Minister Narendra Modi's visit to the UAE in February 2024. Established in 2013, the HLJTFI has served as a vital platform for promoting trade and investment ties, identifying new opportunities, and resolving investor issues.
"UAE remains one of India's most important strategic partners. Their Comprehensive Strategic Partnership is underpinned by deep political engagement, robust economic integration, and collaboration across energy, defence, technology, and food security. The CEPA, which came into force in May 2022, has nearly doubled bilateral merchandise trade from USD 43.3 billion in FY 2020-21 to USD 83.7 billion in FY 2023-24, while catalyzing a structural shift towards non-oil sectors," the release stated.
(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed)
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