'India-UAE pact to drive non-oil trade to $100 billion in 5 years'
Hindustan Times|August 02, 2022
The free trade agreement between India and the United Arab Emirates, expected to drive non-oil trade to $100 billion in five years, is a flexible deal that allows the inclusion of new elements in areas such as digital, UAE economy minister Abdulla Bin Touq Al Marri has said.
Rezaul H Laskar
'India-UAE pact to drive non-oil trade to $100 billion in 5 years'

NEW DELHI: The Comprehensive Economic Partnership Agreement (CEPA), which was signed by the two countries in February, and became effective in May, also opens the door for tripartite cooperation with Indian businesses using the UAE as a base to enter the Israeli market, Al Marri said in an interview.

Describing the CEPA as the first part of the UAE's "bold new foreign trade policy designed to re-engineer our economy for the next 50 years", he said the agreement is expected to add $9 billion to the UAE's GDP by 2030, and to "fuel the growth of UAE-India non-oil trade to exceed $100 billion from the current $40 billion within five years of the signing of the agreement".

The forward-looking agreement also has scope for the inclusion of new elements. "This is a flexible deal.

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