UAE–India Business Council Signs MoUs to Boost Trade and Strengthen CEPA
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The UAE–India Business Council (UIBC) has signed three significant Memorandums of Understanding (MoUs) aimed at strengthening trade and economic cooperation between the two countries. The agreements are designed to enhance the implementation of the Comprehensive Economic Partnership Agreement (CEPA), which came into effect in May 2022, and to broaden opportunities across services and regional commerce.
The MoUs were signed with three key organizations: the Services Export Promotion Council (SEPC) of India, the Confederation of Indian Industry (CII), and the Dubai International Chamber. Together, these agreements will work toward facilitating business exchanges, resolving trade barriers, and enabling smoother collaboration for companies operating in both markets.
The UIBC emphasized that CEPA has already given a major boost to bilateral trade, pushing it beyond USD 85 billion in 2022–23. With these new MoUs, the focus shifts to expanding services trade, particularly in areas like IT, healthcare, education, and tourism. Officials believe this will create a multiplier effect for jobs, investments, and innovation on both sides.
The Dubai International Chamber partnership will further help Indian companies establish themselves in the UAE, while also enabling Emirati businesses to access India’s vast and diverse market. Similarly, collaboration with SEPC and CII will provide a structured framework to address policy issues, encourage sector-specific growth, and promote joint ventures.
India and the UAE share strong strategic and cultural ties, and the CEPA has been regarded as a model trade agreement in the region. These MoUs reaffirm both nations’ commitment to building on that momentum, ensuring that businesses—particularly in the services sector—benefit from seamless market access.
The move is expected to deepen economic integration, align trade goals, and set new benchmarks for regional and global cooperation.
