…Looking for alliances with Indian companies to capture emerging markets in Africa, CIS and Eastern Europe

NEW DELHI : Dr Thani Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade today emphasized that the India-UAE CEPA agreement has benefited the bilateral trade between the two nations. “CEPA agreement has started a new chapter in India-UAE bilateral trade investments by catalyzing industrial output and increasing capital flows and sparking new joint ventures and innovations,” he added. He also stated that in the first 12 months since implementation, the total value of non-oil bilateral trade reached $ 50.5 billion.

Addressing the ‘India-UAE Business Forum’, organized by FICCI, Dr Thani also highlighted on the need for more collaboration between the two nations to capture newer markets with potential which include the CIS, Africa and East European countries. We are opening our markets, ensuring new engagements and partnerships & alliances to capture newer markets, he added.

Minister Dr Thani while speaking on the potential of the services sector stated that with the rise in the middle-class income group, is not only benefiting trade but also acting as the engine of growth for both nations. “Together, we have established a powerful nexus of growth that can deliver long-term prosperity. Social, cultural and economic relations between our countries go back a long time. Our markets are of huge strategic importance to each other and together we must keep exploring the possibilities for our partnership,” he emphasized.