Union Minister for Commerce and Industry Piyush Goyal today said that India and UAE are looking forward to take the bilateral trade in the non-petroleum products to 100 billion dollars by 2030. The Minister was speaking after the first meeting of the Joint Committee of India and UAE Comprehensive Economic Partnership Agreement, (CEPA), in the presence of Minister of State for Foreign Trade, UAE Dr. Thani bin Ahmed Al Zeyoudi in New Delhi.
Mr. Piyush Goyal said that currently India-UAE trade in non-petroleum products is worth 48 billion dollars, and both countries mutually agreed to take it forward to 100 billion dollars. Talking about the first meeting of the Joint Committee of India and UAE (CEPA), he said there are significant outcomes from the meeting to expand the trade and business opportunities between the two countries.
He said, the bilateral trade between India and UAE has seen a significant increase in the last one year and both the countries have also managed to be finalized (CEPA) in a record time of 80 days. During the meeting both the countries agreed to set up UAE- India CEPA Council that serves as a vehicle for both the government and business community to facilitate the smooth implementation of CEPA.
