Jaipur’s Role in Boosting India-UAE Trade
Jaipur, a historic city in India, has emerged as a key player in the significant spike in trade between India and the United Arab Emirates (UAE). Following the signing of the Comprehensive Economic Partnership Agreement (CEPA) between the two countries, bilateral trade has seen a remarkable 16 per cent increase, reaching 85 billion USD from 73 billion USD two years ago.
The Impact of CEPA
“Jaipur’s Role in Boosting India-UAE Trade” has been substantial. The CEPA, signed two years ago, has been a game-changer for both nations. It has not only boosted trade but has also opened up new economic opportunities. The agreement has led to a surge in trade volume, highlighting the growing economic partnership between India and the UAE.
Jaipur’s Role in Boosting India-UAE Trade
Jaipur has played a crucial role in facilitating trade between the two countries, contributing approximately half a billion dollars. Recognizing “Jaipur’s Role in Boosting India-UAE Trade,” UAE officials have expressed their intention to engage with local businesses to explore partnership opportunities. This move is expected to further strengthen trade ties between the two nations.
Focus on Ras Al-Khaimah
Apart from Jaipur, Ras Al-Khaimah in the UAE has also been identified as an important location for Indian business leaders. Its economic investment policies and world-class infrastructure make it an attractive destination for Indian companies looking to expand their international footprint. Ras Al-Khaimah’s strategic location and business-friendly environment provide immense value to Indian businesses seeking to grow globally.
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Benefits of CEPA
The UAE-India CEPA offers numerous benefits for businesses from both countries. It provides greater access to each other’s markets, reduces or removes tariffs on a significant portion of products, and ensures an open and non-discriminatory trading environment. The agreement also addresses technical barriers to trade and supports UAE businesses in government procurement tenders.
Future Prospects
As both countries continue to deepen their partnership, businesses stand to gain from the conducive regulatory framework and enhanced market access facilitated by the CEPA. The Joint Committee overseeing the implementation and improvement of the agreement will further enhance bilateral trade relations between India and the UAE.
“Jaipur’s Role in Boosting India-UAE Trade” highlights the growing economic partnership between the two countries. Jaipur’s role in facilitating trade and Ras Al-Khaimah’s attractiveness to Indian businesses underscores the immense potential for further collaboration. With the CEPA in force, both nations are poised to benefit from enhanced market access and greater economic cooperation.
