170 billion UAE trade with India in 2021, a growth of 66%.

* Rashid Abdul Karim Al Balushi: We strengthen our position as a regional and global destination for business and investment
* Ali Hussein Makki: Ecommerce created 3,000 jobs in Abu Dhabi 2021
Abu Dhabi: “The Gulf”
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Department of Economic Development – Abu Dhabi organized in collaboration with the Ministry of Economy a workshop for private sector institutions on the comprehensive Economic Partnership Agreement between the UAE and India, which aims to strengthen economic cooperation between the two countries and expand mutual access to markets and investment opportunities.
The agreement, signed earlier this year, paves the way for increasing cooperation and raising the value of non-oil trade between the two countries to more than $ 100 billion within five years. The signing of the agreement with India came as part of the UAE’s tendency to enter into comprehensive Economic Partnership Agreements with key trading partners. Where the Ministry of Economy announced its efforts to conclude 8 comprehensive partnership agreements with 8 strategic markets and increase the volume of trade exchanges with them by 40 billion dirhams annually.
The Economic Partnership Agreement covers 11 service sectors and more than 100 sub-sectors and aims to stimulate trade flows between the two countries through tariff exemptions for more than 80% of goods and merchandise.
According to 2021 statistics, non-oil trade between the two countries increased by 66% to AED 170 billion. India represents 9% of the country’s total foreign trade; Non-oil exports to India accounted for 13% of total exports of these exports, ranking first among export destinations and third among re-export destinations with 8.1% of total re-export trade in the UAE. India is number two in the countries from which the UAE imports and accounts for 7.4% of total imports.
important partner
The workshop was attended by Rashid Abdul Karim Al Balushi, Deputy Secretary of the Department of Economic Development – Abu Dhabi, Sameh Al Qubaisi, Director General of Economic Affairs at the Department of Economic Affairs – Abu Dhabi, and Abdullah Al Shamsi, Assistant Deputy Secretary of the Economic Development Sector of the Ministry of Economy, together with a number of officials in the Ministry and the Abu Dhabi economy ¬Ľand a number of representatives of private sector companies operating in the Emirate of Abu Dhabi.
Al Balushi said: “India is one of the main trading partners in Abu Dhabi and the United Arab Emirates, and one of the main markets characterized by broad growth opportunities in a number of sectors. The Economic Partnership Agreement provides an opportunity to promote trade exchanges and the opening of new markets for private institutions operating in Abu Dhabi.
He added: “Abu Dhabi continues to strengthen its position as a regional and global destination for trade, business and investment and has launched a number of initiatives to facilitate trade, provide the necessary logistical support and facilitate business, which included reduce costs and requirements, simplify procedures and enable seamless integration of public services. ” He urged private sector institutions to take advantage of the wide range of opportunities offered by the Comprehensive Economic Partnership Agreement with India.
The workshop, with the participation of a number of experts and workers in the field of foreign trade, discussed a number of targeted aspects of the agreement, including goods, merchandise, services, rules of origin and preventive measures.
Quantum leaps
For his part, Dr. Ali Hussein Makki, Managing Director of the Logistics Support and Trade Facilitation Sector at the Department of Economic Development: “The Comprehensive Economic Partnership Agreement with India represents a qualitative leap in the promotion of trade between the two countries and Abu Dhabi enables the expected growth of trade exchanges to be met, which explains why trade facilitation solutions recently launched by Abu Dhabi, including the advanced trade and logistics platform “Otlob”, helped to improve procedures, reduce costs and improve trade exchanges. “
Makki referred to the “success of the strategic trade facilitation solutions implemented by the” Abu Dhabi economy “by developing a new e-commerce policy and attracting more companies. The amount of committed investment amounted to 3.7 billion dirhams, and the creation of 3,000 new jobs over the past year. ” He urged private sector institutions to take advantage of the services of the “Abu Dhabi Export Gateway”, the information platform that offers marketing opportunities for local products; It includes more than 100 products with international specifications and covers more than 60 target markets worldwide, enhancing the ability of local products to compete internationally. “

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