The UAE-India partnership has a new catalyst in play
The United Arab Emirates-India relationship is without question one of the region’s most dynamic partnerships. It is one that stands as a global exemplar for the positive benefits that can be achieved through open, consistent and constructive dialogue; visionary leadership; and mutual respect.
Within the constellation of cooperation mechanisms that bind our two countries together, the Comprehensive Economic Partnership Agreement (CEPA) remains fundamental to the continued dynamism of our partnership. Having entered into force only 18 months ago, the CEPA has catapulted the United Arab Emirates-India relationship to new heights.
Not only has it expanded market access for Emirati and Indian businesses seeking to enter each other’s respective markets, it has also significantly decreased tariffs, streamlined customs procedures and introduced a series of robust and transparent regulations that support rules-based competition. Proof of the CEPA’s benefits are clear in the United Arab Emirates’ continued evolution as one of India’s most important economic partners.
Over the course of the past year, the United Arab Emirates has risen to the position of India’s fourth-largest investor, third-largest trading partner and second-largest export destination, further underlining the transformative influence of the CEPA. This collaborative spirit extends to various sectors, mainly the field of aviation, which is key to nurturing and consolidating trade, investment and cultural ties.
Although these developments should be lauded, I would argue that the CEPA has done much more than strengthen our economic bonds. In fact, the CEPA has served as a launch pad for the development of much deeper and more nuanced relations, and encouraged a
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