EAM Jaishankar meets UAE's Industry Minister for bilateral talks ahead of CEPA signing

On Friday, the External Affairs Minister (EAM) of India Dr S Jaishankar met with the Minister of Industry and Advanced Technology of UAE, Dr Sultan Al Jaber. This comes as India and UAE are signing the Comprehensive Economic Partnership Agreement (CEPA).

EAM Jaishankar told UAE media that the deal will expand goods and services trade, stimulate investments, and strengthen the strategic alliance between the two countries. CEPA is intended to increase non-oil bilateral commerce from $40 billion before the COVID-19 pandemic to $100 billion in the next five years. CEPA negotiations between the UAE and India have been ongoing for five months.

Earlier today, EAM Jaishankar shared a tweet and stated that it was a pleasure to meet Dr Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, to discuss India-UAE relations. He further said that he is looking forward to the Leaders' Summit in a few weeks.

India-UAE relations

India UAE relations have grown since Prime Minister Modi's visit to the UAE in 2015. During the COVID pandemic, both sides aided each other. Most individuals have been able to return to work and start businesses, thanks to the Air Bubble agreement signed by both parties in August 2020. 

Trade between India and the United Arab Emirates will return to pre-pandemic levels this fiscal year, with a value of $60 billion. It is projected to expand much further with CEPA. Today, the UAE invests about $17 billion, up from $3 billion in 2014. Business groups from the UAE have also expressed a strong desire to invest in Jammu and Kashmir.

Military ties have also improved significantly. Overflights of Rafales from France to India were made possible with the assistance of the UAE. In December 2020 and August 2021, respectively, the Indian Army Chief and Chief of Air Staff visited the UAE. India was also well-represented at the Abu Dhabi shows IDEX and NAVDEX 2021.

India had a large presence at the Dubai Air Show in 2021 and was given one of the largest plots in the Dubai Expo and the ability to keep the Indian Pavilion after the event ended.

Image: @DrSJaishankar/Twitter