The Comprehensive Trade Agreement between India and the United Arab Emirates will help generate employment opportunities and boost the growth of the domestic economy.
The Comprehensive Economic Partnership Agreement (CEPA) is expected to increase bilateral trade in goods to over US$100 billion and trade in services to over US$15 billion within five years.
The agreement paves the way for several sectors, especially labour intensive sectors such as textiles, gems and jewellery, pharmaceuticals and agriculture.
The agreement will open doors not only for Indian and UAE businesses but also for other countries as the UAE is a transit point for large parts of Africa, CIS (Commonwealth of Independent States) countries and the Gulf region.
CIS countries include Armenia, Azerbaijan, Belarus, Georgia, Kazakhstan, Kyrgyzstan, Moldova, Russia, and Tajikistan.
Indian pharma products will get immediate access to the UAE market.
Bilateral trade will reach at least US$ 100 billion in the near future.
Please Rate this article, so that we can improve the quality for you -