India and UAE Strengthen Economic Ties Through Trade Diversification and Connectivity Projects
-
India and UAE aim to diversify traded commodities to broaden economic cooperation and facilitate local currency transactions. Discussions ongoing to identify commodities of mutual interest.
-
UAE-India CEPA eliminating tariffs on over 80% of products to boost trade. Non-oil trade in first 12 months increased by 5.8% after CEPA.
-
India-Middle East-Europe Economic Corridor (IMEC) aims to enhance connectivity and integration between regions. UAE's strategic location makes it a key player.
-
UAE announced $2 billion investment in India 'food parks' to tackle food security. Working with partners on establishing parks.
-
UAE values preference for Indian rice. Recent approval of 75,000 tonnes white rice export to UAE shows enduring partnership.