India, UAE To Commence Trade Talks, Aim To Conclude Negotiations By December
NDTV
India and the UAE have formally launched negotiations for a Comprehensive Economic Partnership Agreement (CEPA), Piyush Goyal said.
New Delhi: India and the United Arab Emirates (UAE) have formally launched negotiations for a Comprehensive Economic Partnership Agreement (CEPA), Commerce Minister Piyush Goyal said on Wednesday. The first round of CEPA talks will be held from Thursday (September 23). "Both sides will aim to conclude negotiations by December 2021 and sign a formal agreement in March 2022," Ministry of Commerce & Industry stated in a notification.
This was communicated at a joint briefing by Mr Goyal and his UAE counterpart Thani bin Ahmed Al Zeyoudi. "India and the UAE will hold talks aimed at improving bilateral economic relations, including expanding the existing trade and investment relationship," the ministry added.
In a joint statement, both the ministers emphasized that CEPA will create new jobs, raise living standards, and provide wider social and economic opportunities in both nations.
"A new strategic economic agreement is expected to increase bilateral trade in goods to $100 billion within five years of the signed agreement and increase trade in services to $15 billion," the statement read.
