Dubai: Official data revealed that the UAE-India bilateral non-oil trade has increased by 7% to reach $45.5 billion in 11 months since Comprehensive Economic Partnership Agreement (CEPA) . The CEPA came into effect on May 1, 2022. Dr Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade announced this at a special event during the opening day of Annual Investment Meeting (AIM).
‘One of the central goals of the UAE-India CEPA was to increase the flow of goods and services between our nations – and, by doing so, stimulate key export sectors, drive industrial output and kick-start an exciting new era of prosperity. The latest figures, which I’m revealing today for the first time, underline the pace of our progress. Between May 1, 2022 and March 31, 2023 – the first 11 months of the CEPA, bilateral non-oil trade reached 45.5 billion dollars. That is a 7 percent increase on the corresponding period 12 months earlier,’ the minister said.
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As per data, in the first three months of the year, total bilateral trade reached $13.3 billion – 24.7% increase on the previous quarter. It is also 5.4% higher than Q1, 2022. UAE’s non-oil exports climbed 33% compared to Q4, 2022. Re-exports from India rose 31.5%.
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