{"id":24765,"date":"2022-02-18T20:52:33","date_gmt":"2022-02-18T15:22:33","guid":{"rendered":"https:\/\/tradebrains.in\/features\/uae-india-cepa-reax\/"},"modified":"2022-02-18T20:52:33","modified_gmt":"2022-02-18T15:22:33","slug":"uae-india-cepa-reax","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/uae-india-cepa-reax\/","title":{"rendered":"Top NRI business leaders hail signing of Comprehensive Economic Partnership Agreement between India and UAE"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-267879712\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p> Dubai, Feb 18 (PTI) Leading NRI businessmen on Friday hailed the signing of the Comprehensive Economic Partnership Agreement (CEPA) between India and the UAE, saying the landmark deal will take the economic and commercial engagements to the next level and bring both the sides on a win-win position.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1278161626\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p> CEPA, a comprehensive path-breaking trade agreement between India and the UAE, was signed during a virtual summit between Prime Minister Narendra Modi and Abu Dhabi Crown Prince Sheikh Mohamed bin Zayed al Nahyan on Friday. The agreement was signed and exchanged by Commerce and Industry Minister Piyush Goyal and UAE Minister of Economy Abdulla bin Touq Al Marri.<\/p>\n<p> The CEPA is likely to boost trade between India and the UAE from USD 60 billion to USD 100 billion in the next five years, Indian Ambassador to the UAE Sunjay Sudhir said.<\/p>\n<p> Several businesses in the UAE praised the two governments for signing the CPEA which many new avenues of collaborations will open, and this will benefit businesses from both countries \t Yusuffali MA, Chairman of Lulu Group and Vice-Chairman of Abu Dhabi Chamber of Commerce hailed the signing of the CEPA as a &#8220;truly a landmark and very decisive moment in the long-standing Indo-UAE trade relations.&#8221; \t The UAE &#038; India are each other\u2019s key trade partners with robust trade and investments in various sectors in both countries. No doubt with the signing of the CEPA, many new avenues of collaborations will open, and this will benefit businesses from both countries and beyond as the UAE is a key gateway to the Middle East and Africa, Yusuffali said.<\/p><div class=\"trade-content_5\" id=\"trade-4005594039\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p> &#8220;As a UAE based business group with sizeable presence in India, especially in the retail and food processing sectors, we are hoping that our imports from India will see new levels of growth which will further strengthen the food security of UAE,\u201d he said.<\/p>\n<p> Rizwan Adatia, the Chairman of Vision Exports UAE, Cogef group and RAF Global, said that CEPA is the first step towards a new era with India completing 75 years of independence and UAE\u2019s 50 years of foundation.<\/p>\n<p> \u201cThe India-UAE agreement is of strategic significance for both partners. It is a win-win for both India and Emirates,\u201d he said, adding that ease of trade, connecting small businesses, start ups, renewable and tech collaboration would be among positive outcomes.<\/p>\n<p> Dr Sunil Manjarekar, President of GMBF Global, Dubai, said CEPA agreement will take india-UAE economic and commercial engagement to the next level.<\/p>\n<p> \u201cIt\u2019s a game-changer in mutual benefits for both the countries,\u201d he said.<\/p>\n<p> Manjerakar said that Maharashtra will get maximum benefit from CEPA and that \u201cinclusion of areas like trade, investment, goods and services will add value for the economy.\u201d \t Shakir Kantawala, Co-founder &#038; Managing Partner of the WingsWay Training Institute, said he primarily sees a surge in bilateral investments which is important for both nations.<\/p><div class=\"trade-content-10\" id=\"trade-3446544179\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p> \u201cThe leadership teams in both UAE &#038; India have always been progressive visionaries. Our economic ties have consistently been enhanced over the years. It\u2019s time to upscale the commercial relationship and economic bonding,\u201d Kantawala said.<\/p>\n<p> Rashmi Jain, Partner at JRB Chartered Accountants, said the UAE is India\u2019s 3rd largest trade partner with nearly USD 60 billion of bilateral trade.<\/p>\n<p> \u201cWith CEPA, this bilateral trade in goods is expected to increase to USD 100 bn within 5 years of the signed agreement. Similarly, bilateral investments are also expected to see significant enhancements,\u201d said Jain.<\/p>\n<p> She said the CEPA pact will significantly boost jobs and investments in both the countries.<\/p>\n<p> \u201cIndustries that comprise most of the trade are petroleum products, precious metals, textiles, engineering and machinery products, chemicals, woods and wood products etc,\u201d she said.<\/p>\n<p> Kamal Vachani, Group Director and Partner at Al Maya Group, says India and the UAE share a long and rich history of social and economic ties.<\/p>\n<p> \u201cThis virtual summit will further pave the way to boost political and trade relations,\u201d he said.<\/p>\n<p> According to Vachani, CEPA between India and the UAE is a matter of significant importance in the context of the growing economic ties between the two countries.<\/p>\n<p> \u201cTrade between India and the UAE has always been an important factor in driving economic partnership. India is among the top three trading partners of the UAE and the signing of a new free trade agreement between both the countries will take the trade to the next level,\u201d said Vachani.<\/p>\n<p> The Ministry of External Affairs said the UAE is India&#8217;s third-largest trade partner, and bilateral trade and investment ties are expected to see significant enhancements. PTI CORR RUP AKJ  SCY SCY SCY<\/p>\n<div class=\"trade-after-content\" id=\"trade-954158320\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Dubai, Feb 18 (PTI) Leading NRI businessmen on Friday hailed the signing of the Comprehensive Economic Partnership Agreement (CEPA) between India and the UAE, saying the landmark deal will take the economic and commercial engagements to the next level and bring both the sides on a win-win position. CEPA, a comprehensive path-breaking trade agreement between [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1697,31],"tags":[],"class_list":["post-24765","post","type-post","status-publish","format-standard","hentry","category-economy","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Top NRI business leaders hail signing of Comprehensive Economic Partnership Agreement between India and UAE - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/uae-india-cepa-reax\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Top NRI business leaders hail signing of Comprehensive Economic Partnership Agreement between India and UAE\" \/>\n<meta property=\"og:description\" content=\"Dubai, Feb 18 (PTI) Leading NRI businessmen on Friday hailed the signing of the Comprehensive Economic Partnership Agreement (CEPA) between India and the UAE, saying the landmark deal will take the economic and commercial engagements to the next level and bring both the sides on a win-win position. 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