In a yearend review 2023 for Department of Commerce, Ministry of Commerce and Industry (MoC & I) reaffirmed and recall their initiatives for the year 2023 between India-UAE. India and UAE successfully held the 1st Meeting of the Joint Committee (JC) of the India-UAE CEPA from 11th -12th June 2023 in New Delhi.
During the JC, both sides, inter-alia, reviewed the bilateral trade under the CEPA, agreed to operationalize the established committees/sub-committees/technical council under the CEPA, agreed on mutual exchange of preferential trade data on quarterly basis for effective monitoring of the CEPA.
CEPA also discussed various matters related to the implementation of the Agreement and agreed on addressing any issue that may potentially act as a hindrance to CEPA implementation or its usage by businesses on both sides, agreed on creation of a new sub-committee on Trade in Services, and also agreed to set-up a UAE-India CEPA Council (UICC) as a B2B collaboration mechanism, with a focus on MSMEs and start-ups, for building greater economic linkages and optimizing CEPA benefits.
The 11th meeting of the UAE-India High Level Joint Task Force on Investments (‘the Joint Task Force’) was held on 5th October in Abu Dhabi, co-chaired by His Highness Sheikh Hamed bin Zayed Al Nahyan, the Managing Director of Abu Dhabi Investment Authority (ADIA), and Union Minister of Commerce and Industry.
The Joint Task Force (JTF) was established in 2013 to promote trade, investment and economic ties between India and the UAE. The Joint Task Force has provided an effective mechanism for discussion on opportunities & prospects for investments in both countries as well as resolution of issues faced by investors of the two countries.
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