Free trade agreement between India-UAE is expected to come into force from 1st May

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The free trade agreement between India and the United Arab Emirates is expected to come into force from 1st May this year. India-UAE Comprehensive Economic Partnership Agreement, CEPA was signed on 18 February, 2022 in New Delhi during the India-UAE Virtual Summit held between Prime Minister Narendra Modi and Crown Prince of Abu Dhabi Sheikh Mohamed bin Zayed Al Nahyan. The agreement aimed at boosting the merchandise trade between the two countries to 100 billion US dollar over the next five years. The India-UAE CEPA is the first deep and full free trade Agreement to be signed by India with any country in the past decade.

Commerce and Industry Minister Piyush Goyal has said that historic India – UAE CEPA, is a joint roadmap to transform the lives of our people and strengthen the partnership on the global stage. In a tweet, Mr. Goyal said, India-UAE embark on a brighter future together.