India-UAE CEPA Council Launched at Ahmedabad Business Summit
During the ongoing Vibrant Gujarat Global Summit in Ahmedabad, India and the UAE unveiled the UAE-India CEPA Council (UICC) with the aim of fostering strong partnerships and practical collaboration within the business communities of both nations. The official press statement highlighted the presence of key figures such as Dr. Thani bin Ahmed Al Zeyoudi, the UAE Minister of State for Foreign Trade, and Piyush Goyal, the Union Minister of Commerce and Trade, at the launch event.
The UICC will focus on key sectors including start-ups, women entrepreneurs, micro, small, and medium-sized enterprises (MSMEs), as well as the services sectors. This announcement took place as part of the UAE-India Business Summit, concurrent with the Vibrant Gujarat Global Summit 2024. This event represented a significant step forward in the economic collaboration between the UAE and India, introducing various initiatives aimed at enhancing the strategic bilateral partnership.
UAE Minister of State for Foreign Trade Dr. Thani bin Ahmed Al Zeyoudi said, "The launch of the UAE-India CEPA Council underlines the strength of our economic partnership. The Council is a testament to the shared vision of creating a dynamic and resilient economic relationship, driving sustainable growth and prosperity for both our nations".
Highlighting the significance of economic cooperation between the UAE and India, Union Minister Piyush Goyal said, "The UAE-India Business Summit reflects our shared commitment to economic growth, innovation, and mutual prosperity. This summit serves as a catalyst for the next phase of our economic collaboration and our common journey towards greater shared growth. The launch of the UICC is a significant step in providing a structured framework to businesses keen to explore bilateral trade opportunities, thus strengthening economic cooperation between the UAE and India".
The UAE Ambassador to India, Dr. Abdulnasser Alshaali, said, "The UAE-India Business Summit reinforces the strategic collaboration between our nations, charting a path for new avenues of growth and cooperation. Our shared commitment to sustainable development and inclusive growth is evident in the initiatives unveiled today, and I am confident that this partnership will continue to flourish".
The summit also provided the opportunity for participants to take part in a range of focused sessions on trade finance, investment facilitation, and the gems and jewellery trade. Further, according to the press statement, the Vibrant Gujarat Global Summit, for which the UAE enlisted its participation as a partner country, marked a significant milestone in fostering international collaboration and was inaugurated by Prime Minister Narendra Modi.
Since its establishment in 2003, the summit has transformed into India's foremost platform for fostering business networking and knowledge exchange. Gujarat Chief Minister Bhupendrabhai Patel conducted numerous meetings with distinguished guests during the summit. The UAE's representation was notably high, with President Sheikh Mohamed bin Zayed Al Nahyan attending as the chief guest. With a robust delegation of over 250 individuals from the UAE spanning diverse sectors like retail, energy, and finance, the commitment to bilateral economic cooperation was evident. A media release emphasized that this summit plays a crucial role in facilitating global dialogue, promoting innovation, and strengthening partnerships.
