India-UAE trade deal CEPA to create jobs, boost trade: 10 points
India Today
The Comprehensive Economic Partnership Agreement, signed by India and the United Arab Emirates, will help businesses in both nations and foster closer bilateral ties.
India and UAE held a virtual summit last evening to further cement bilateral ties and strategic partnership between nations that have worked closely amid the pandemic, helping each other tide through. Prime Minister Narendra Modi and Crown Prince of Abu Dhabi Sheikh Mohamed bin Zayed bin Sultan Al Nahyan witnessed the signing of the Comprehensive Economic Partnership Agreement at the end of a "historic summit" yesterday and adopted the Joint India-UAE Vision Statement, the Ministry of External Affairs said.
The Comprehensive Economic Partnership Agreement (CEPA) - a comprehensive free trade agreement between the two nations - will come into force this May and will open new doors of export to the UAE, Union Minister Piyush Goyal said, reported news agency PTI. While India will benefit from competitive pricing, new export opportunities, job creation and reduced duties, it will put in place a mechanism to help UAE investors fast track their investments in infrastructure in India, and in the logistics chain.
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