India-UAE CEPA business roundtable in Chennai spurs economic collaboration
By Team Asianet Newsable | First Published Feb 28, 2024, 10:55 PM ISTThe India-United Arab Emirates Comprehensive Economic Partnership Agreement (CEPA) Council organized a business roundtable in Chennai, in partnership with the Confederation of Indian Industry (CII), aimed at bolstering economic ties between the two nations.
India-United Arab Emirates CEPA (comprehensive economic partnership agreement) Council held a business roundtable for Chennai-based exporters aimed at promoting the economic partnership between two countries. Held in collaboration with the Confederation of Indian Industry (CII), over 20 participants across sectors, including logistics, automotive, agriculture, and healthcare discussed opportunities to benefit from CEPA, and the bilateral strategic partnership more broadly.
DP World Vice President (Corporate Affairs) Col Shubhransh Srivastav (R) delved deeper into the recently launched Bharat Mart, which is expected to boost Indian SME exports to the UAE and the greater MENA (Middle East North Africa) region.
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Sameer Nawani, Chief Representative in India for the Dubai Chamber of Commerce and Industry highlighted opportunities for Indian businesses to invest in Dubai.
Speaking on the occasion, Ahmed Aljneibi, Director of the UAE-India CEPA Council, 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. 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 said.
During his remarks, TT Ashok, Member of the CII National Council and Past Chairman of the CII Southern Region 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 combined efforts undertaken 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 outlined.
These measures have been critical to supporting the UAE-India partnership. .The CEPA stands as a cornerstone of the enduring and mutually beneficial relationship between the UAE and India.
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