Bilateral trade between India and the United Arab Emirates has crossed the $100 billion mark since the two countries signed their Comprehensive Economic Partnership Agreement (CEPA), External Affairs Minister S. Jaishankar said on Tuesday during talks with his UAE counterpart in Mumbai.
Jaishankar made the announcement during bilateral talks with Sheikh Abdullah bin Zayed Al Nahyan, the UAE's Deputy Prime Minister and Foreign Minister, who arrived in Mumbai on Monday night for a two-day visit. The meeting took place against the backdrop of a fresh wave of attacks on Saudi Arabia reportedly carried out by Houthi militants.
A milestone for the partnership
"After more than a decade of sustained engagement, the India-UAE relationship is today really living up to its promise as a comprehensive strategic partnership," Jaishankar said in his opening remarks, as reported by the Financial Express.
"The bilateral trade has crossed the USD 100 billion mark since the signing of the CEPA, and two-way investments continue to grow, reflecting the confidence of our businesses in each other's economies," he said. He added that despite global headwinds and regional challenges, the economic partnership continued to set "new benchmarks", and that cooperation in defence, energy and technology was "acquiring a strategic character". The Indian Express noted that the UAE is now India's third-largest trading partner globally, after the United States and China.
The CEPA, signed in 2022, has produced a significant upswing in bilateral trade and people-to-people ties since it came into force.
West Asia in focus
The Gulf security situation featured prominently in the talks. "The situation in the Gulf remains a matter of deep concern. We will continue to work together and support all efforts to promote dialogue and diplomacy," Jaishankar said.
"We continue to support free, safe and unimpeded flow of trade, energy and fertiliser," he added, thanking the UAE leadership for ensuring the well-being of the Indian community in the country.
The visit follows Jaishankar's October 14-16 trip to the UAE, where he held discussions with Emirati leaders and took part in the Raisina Middle East Dialogue in Abu Dhabi.
Sources:
The Economic Times: Jaishankar, UAE counterpart discuss West Asia crisis, stress dialogue and diplomacy
The Indian Express: Jaishankar, UAE FM discuss West Asia crisis and India-UAE ties
Jaishankar made the announcement during bilateral talks with Sheikh Abdullah bin Zayed Al Nahyan, the UAE's Deputy Prime Minister and Foreign Minister, who arrived in Mumbai on Monday night for a two-day visit. The meeting took place against the backdrop of a fresh wave of attacks on Saudi Arabia reportedly carried out by Houthi militants.
A milestone for the partnership
"After more than a decade of sustained engagement, the India-UAE relationship is today really living up to its promise as a comprehensive strategic partnership," Jaishankar said in his opening remarks, as reported by the Financial Express.
"The bilateral trade has crossed the USD 100 billion mark since the signing of the CEPA, and two-way investments continue to grow, reflecting the confidence of our businesses in each other's economies," he said. He added that despite global headwinds and regional challenges, the economic partnership continued to set "new benchmarks", and that cooperation in defence, energy and technology was "acquiring a strategic character". The Indian Express noted that the UAE is now India's third-largest trading partner globally, after the United States and China.
The CEPA, signed in 2022, has produced a significant upswing in bilateral trade and people-to-people ties since it came into force.
West Asia in focus
The Gulf security situation featured prominently in the talks. "The situation in the Gulf remains a matter of deep concern. We will continue to work together and support all efforts to promote dialogue and diplomacy," Jaishankar said.
"We continue to support free, safe and unimpeded flow of trade, energy and fertiliser," he added, thanking the UAE leadership for ensuring the well-being of the Indian community in the country.
The visit follows Jaishankar's October 14-16 trip to the UAE, where he held discussions with Emirati leaders and took part in the Raisina Middle East Dialogue in Abu Dhabi.
Sources:
The Economic Times: Jaishankar, UAE counterpart discuss West Asia crisis, stress dialogue and diplomacy
The Indian Express: Jaishankar, UAE FM discuss West Asia crisis and India-UAE ties
