Mauritius Prime Minister Pravind Jugnauth on Thursday highlighted India’s support seen in all sectors of the Mauritian economy and said that New Delhi was the first to sign an agreement with Port Louis – the first country in Africa to sign Comprehensive Economic Partnership Ag
Thani Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade has said that the India-UAE Comprehensive Economic Partnership Agreement (CEPA) agreement signed in 2022 has benefited the bilateral trade between the two nations.
This is India’s first-ever LCS and is expected to reduce transaction costs and time and increase reliance on local currencies. This will further add to the preferential terms accruing from CEPA. Traders can choose the payment currency based on mutual agreement.
The CEPA, signed during a virtual summit in March 2022 with the participation of President His Highness Sheikh Mohamed bin Zayed Al Nahyan and President Recep Tayyip Erdogan of Türkiye, has been officially ratified by their governments in preparation for its implementation.
“Now, just like that, the Rupee-Dirham mechanism which we have just signed, is the first one for both of us. In that sense, it's extremely significant. I actually see it as a paradigm shift in how we can make trade settlements”, he added.
During the past ten years (2013-2022), the trade growth rate between the two countries amounted to 18.2 per cent, from AED 159.72 billion to AED188.8 billion last year, to reach AED1.41 trillion in 10 years.
The UAE’s Minister of State for Foreign Trade, Dr Thani bin Ahmed Al Zeyoudi, said in an interview, that the UAE-India non-oil trade is expected to reach USD 100 billion a year by 2030.
Through a notification on Wednesday, the Directorate General of Foreign Trade (DGFT) amended the import policy for unstudded jewellery made of gold, and other articles made of gold to the "restricted" category from earlier “free”.
"We have seen a significant jump, qualitative enhancement, in the substance of our engagement across the whole range of areas since the signing of the CEPA (Comprehensive Economic Partnership Agreement). And the partnership has continued to grow from strength to strength. This is particul
"Trade ties with India have grown very rapidly following CEPA. There are several areas where we are looking to provide a further fillip to our robust trading ties," said Thani Al Zeyoudi, Minister of State for Foreign Trade at a joint press conference in Delhi today.
The meeting between His Highness Sheikh Mohamed and the Turkish President follows the signing earlier this year of a Comprehensive Economic Partnership Agreement (CEPA) between the UAE and Turkiye that aims to enhance strategic cooperation and sustainable economic growth for the benefit of t