UAE's economy minister Abdulla bin Touq Al Marri has said that the recently signed Comprehensive Economic Partnership Agreement (CEPA) between the 2 countries encourages "trade through tariff elimination.

UAE's economy minister Abdulla bin Touq Al Marri has said that the recently signed Comprehensive Economic Partnership Agreement (CEPA) between the 2 countries encourages "trade through tariff elimination." Speaking to our correspondent Sidhant Sibal, Minister Al Marri said, "key products that will immediately benefit from the Agreement include oil & gas, petrochemicals, minerals, textiles, agriculture, gold and jewellery, metals and more.." India UAE trade pact came into force on the first of May and was signed in February. Gems & jewellery sector contributes a substantial portion of India’s exports to the UAE and is a sector that is expected to benefit significantly from the tariff concessions obtained for Indian products under the India-UAE CEPA. The minister explained, "By finalising the CEPA, the UAE and India unleashed a new golden era in their bilateral relations, under the leadership of His Highness Sheikh Mohamed bin Zayed and Prime Minister Modi." CEPA is expected to increase the total value of bilateral trade in goods to over US$100 billion and trade in services to over US$ 15 billion within five years. The minister also spoke about issues like diversifying the UAE economy, and trade pacts with other countries. WION: You were in Delhi in May. What was your focus during this visit? Abdulla bin Touq Al Marri: Yes, we went back to India along with a significant delegation from the UAE, both in terms of number and member profiles, to elaborate on the various aspects of the UAE-India Comprehensive Economic Partnership Agreement (CEPA), which has been drafted based on a flexible framework that also leaves room for future improvements, if needed. During the visit, we held several meetings with the Indian government and the private sector to highlight current trade and investment opportunities and enable small and medium-sized enterprises (SMEs) and start-ups in both countries to optimally leverage the incentives offered by this historic deal. WION: How significant has the finalization of the trade pact been? Abdulla bin Touq Al Marri: By finalizing the CEPA, the UAE and India unleashed a new golden era in their bilateral relations, under the leadership of His Highness Sheikh Mohamed bin Zayed and Prime Minister Modi. The timing of the signing of the agreement was also symbolic as the two countries celebrate 50 years of friendship. The CEPA is setting a roadmap for a future partnership between our two countries, that will strengthen the current strategic relations and open new opportunities for greater depth and breadth of cooperation and intensify bilateral engagement in diverse areas. We concluded CEPA in a record 88 days, which reflects the strong desire of both countries’ leaderships to exploit opportunities and benefit the economies of our countries in many sectors. The CEPA provisions cover multiple areas such as trade in goods, trade in services, customs procedures and trade facilitation, trade remedies, rules of origin, digital trade, economic cooperation, government procurement, intellectual property rights (IPR), and investment. And we expect to boost bilateral trade to USD 100 billion within the next five years. WION: In terms of gold, how will Indian businesses benefit from the pact? Abdulla bin Touq Al Marri: The CEPA will encourage trade through tariff elimination or reduction on more than 80 per cent of goods and it is expected to have a major impact on trading between India, the UAE and the wider region. Key products that will immediately benefit from the Agreement include oil & gas, petrochemicals, minerals, textiles, agriculture, gold and jewelry, metals and more. The CEPA creates for businesses and investors from both countries a predictable and transparent trading environment and result in more economic opportunities by: Eliminating or reducing customs duties; Removing non-tariff barriers to trade; Strengthening the use of international standards; Granting preferential access to both markets; Establishing an effective and efficient dispute settlement system; Enabling access to government procurement. WION: How can UAE be a hub for regional and global trade flows? And how can Indian goods get a wider space in West Asia via your country? Abdulla bin Touq Al Marri: The world sees the UAE as a stable and attractive place to do business, but also as a reliable partner to trade with. Our logistics network extends to more than 400 global cities. Our infrastructure and connectivity to global markets by road, sea and air provide a gateway for Indian goods to reach millions of new people. UAE exporters will benefit from improved productivity and efficiency gains as we unclog supply chains and create new networks for products. The CEPA presents a solid prospect for Indian companies to expand their outreach and expand their business by fostering great opportunities in the UAE and beyond. Following the COVID-19 outbreak, our government has set an ambitious goal to be the fastest recovering country from the impact of the pandemic. While international organisations expected the UAE’s economy to grow by 2.1% in 2021, we achieved a growth rate of 3.8%. It reflects several factors, including our ability to manage COVID-19 and easing of restrictions, and the rebound in oil prices. But one of the most prominent factors behind the growth upgrade was also the introduction of a series of reforms and stimulus measures to revive economic activity. we established or amended over 40 laws to enhance the business environment and boost competitiveness. We overhauled the law on commercial companies and removed the requirement for onshore companies to have an Emirati shareholder, allowing 100% free foreign ownership in all major economic sectors. We established new legislation on commercial registries and trademarks. We modernized residency rules to make it easier to attract and retain highly educated talent from all over the world. We also adopted the New Penal Code to reflect the changing economic and social needs of residents and ensure our legal system is aligned with international best practices. All the reforms and initiatives I previously listed—and many more—are an open invitation for Indian investors and companies to be part of the UAE new growth plans. The GDP is now expected to increase by 5.4% and 4.2% in 2022 and 2023 according to the central bank of the UAE. WION: After signing the trade pact with India, what other milestones are you looking at achieving? Abdulla bin Touq Al Marri: Bilateral trade, investment and energy ties between India and the UAE have remained robust. The signing of the CEPA is a testament to these longstanding bilateral trade and investment links. Both sides are also strengthening their cooperation in new areas of renewable energy like green hydrogen, climate action, start-ups, skilling, fintech and health tech. We are looking for new frontiers and new milestones that will ensure that the two countries work together even more closely to address the shared global challenges, achieve shared objectives and build a robust and resilient relationship that is future-ready. And I call upon the private sector in India and the UAE to leverage the benefits that CEPA represents. WION: Are you looking at signing trade pacts with other countries? If yes, when do you plan on doing so? Abdulla bin Touq Al Marri: Yes, we have signed two other agreements with Israel and Indonesia and great progress was made in negotiations to sign more agreements with other countries during the coming period. The UAE’s ambition is to expand our bilateral trade ties with like-minded nations to enhance our global competitiveness, increase foreign direct investment, continue to attract some of the world’s top human capital, and position the country as a global hub for business, investment and innovation. Expanding our trade partnerships through a series of agreements will help consolidate our status as a global trade and logistics hub, open new markets for our exporters, secure supply chains, boost investment flows and spur greater economic growth for the region. As governments around the world strive to materialize the goal of a free, fair, inclusive, non- discriminatory, and transparent trade and investment environment and keep markets thriving, we are confident that our CEPAs with some of the largest economies in the world contribute to the achievement of this goal. WION: How are you diversifying the UAE economy? Abdulla bin Touq Al Marri: The development model of the UAE over the past decades has focused on diversification to ensure sustainability. While the UAE remains one of the major producers of oil, the oil sector share in the economy has been steadily decreasing. Today oil does not constitute more than one-third of our GDP. The energy sector itself has changed significantly, by leveraging technology to become a leader in renewable and clean energy with global standing in solar power generation. Going a step beyond diversification, we are in fact building a new flexible, more open economic model in the UAE based on the pillars of creativity, innovation and entrepreneurship. We are constantly enhancing the investor-friendliness and openness of our national economy in line with the UAE’s reputation as a thriving global trade and economic hub. In fact, the country recently updated many of its laws and introduced several forward- looking policy reforms, keeping pace with the economic realities and developmental priorities of our times. Most important law amendments aimed at the business sector include the introduction of 100% foreign ownership and the decriminalization of cheques. Following this, we strengthened the anti-money laundering system and family businesses sector, and several other policies were defined to guarantee a more attractive and profitable business & investment environment in the country. These include measures to cut the red tape, strengthen the IP system, enhance the ease of doing business, reduce the cost of doing business, open new markets &amp; expand trade; offer more support to SMEs and FDI flows; create opportunities in new sectors and most importantly, attract talent. The introduction of a revamped residency and visa system added more value to these efforts. It now allows investors, businessmen, talented professionals, researchers and outstanding students to envision their long-term futures in the country and integrate better with our society and above all - be part of the UAE’s exciting growth journey. I would also like to highlight the ‘Projects of the 50,’ in this regard, which were launched by the UAE to mark its milestone 50th founding anniversary with 50 grand projects. These initiatives are aimed at further diversification and strengthening our economy to establish the UAE as a global nation and the ultimate destination for innovators, inventors, and disruptors. The CEPA model is part of this project. I would also like to highlight 'Investopia,' the global investment initiative launched by the UAE government in September 2021. We started Investopia's global talks from India as a strategic step towards reaching out to other countries, with the aim of promoting and channeling investments in the economies of the future across emerging markets and developing countries.

India, UAE CEPA encourages trade through tariff elimination, says UAE's Economy Minister Marri

India has declared a one-day state mourning on Saturday as a mark of respect to UAE President Sheikh Khalifa bin Zayed Al Nahyan who died today (Friday).

In a communication issued by the Union Home Ministry to all states and union territories on Friday, the Government of India said there will be one day's state mourning on May 14 across the country.

On the day of mourning, the national flag will be flown at half-mast on all buildings where it is flown regularly and there will be no official entertainment, the communication said.

Earlier in the day, Indian Prime Minister&nbsp;Narendra Modi condoled&nbsp;the death and said that Sheikh Khalifa was a great statesman and visionary leader under whom India-UAE relations prospered.

In a tweet, the Prime Minister said, "I am deeply saddened to know about the passing away of HH Sheikh Khalifa bin Zayed. He was a great statesman and visionary leader under whom India-UAE relations prospered. The heartfelt condolences of the people of India are with the people of UAE. May his soul rest in peace."

Also read |<a href="https://www.wionews.com/world/uae-president-and-ruler-sheikh-khalifa-bin-zayed-al-nahyan-passes-away-478632">&nbsp;UAE President and ruler Sheikh Khalifa Bin Zayed Al Nahyan passes away</a>

Sheikh Khalifa, ailing for a long time, died on Friday. He was 73. He was the eldest son of the UAE's founder President Sheikh Zayed bin Sultan Al Nahyan.

The UAE monarch, who was born in 1948, is expected to be succeeded by his half-brother Crown Prince Sheikh Mohammed bin Zayed al-Nahyan as the next ruler of Abu Dhabi, Reuters reported.

The ruler of the kingdom is largely credited with helping&nbsp;to bring the UAE to global prominence and&nbsp;leading the country through turbulent times during the 2008 financial crisis.

(With inputs from agencies)

India has declared a one-day state mourning on Saturday as a mark of respect to UAE President Sheikh Khalifa bin Zayed Al Nahyan who died today (Friday). In a communication issued by the Union Home Ministry to all states and union territories on Friday, the Government of India said there will be one day's state mourning on May 14 across the country.

India has declared a one-day state mourning on Saturday as a mark of respect to UAE President Sheikh Khalifa bin Zayed Al Nahyan who died today (Friday). In a communication issued by the Union Home Ministry to all states and union territories on Friday, the Government of India said there will be one day's state mourning on May 14 across the country. On the day of mourning, the national flag will be flown at half-mast on all buildings where it is flown regularly and there will be no official entertainment, the communication said. Earlier in the day, Indian Prime Minister Narendra Modi condoled the death and said that Sheikh Khalifa was a great statesman and visionary leader under whom India-UAE relations prospered. In a tweet, the Prime Minister said, "I am deeply saddened to know about the passing away of HH Sheikh Khalifa bin Zayed. He was a great statesman and visionary leader under whom India-UAE relations prospered. The heartfelt condolences of the people of India are with the people of UAE. May his soul rest in peace." Also read | UAE President and ruler Sheikh Khalifa Bin Zayed Al Nahyan passes away Sheikh Khalifa, ailing for a long time, died on Friday. He was 73. He was the eldest son of the UAE's founder President Sheikh Zayed bin Sultan Al Nahyan. The UAE monarch, who was born in 1948, is expected to be succeeded by his half-brother Crown Prince Sheikh Mohammed bin Zayed al-Nahyan as the next ruler of Abu Dhabi, Reuters reported. The ruler of the kingdom is largely credited with helping to bring the UAE to global prominence and leading the country through turbulent times during the 2008 financial crisis. (With inputs from agencies)

India declares one-day mourning following demise of UAE President Sheikh Khalifa, Modi offers condolences  

Days after India-UAE signed free trade agreement (FTA) with much fanfare in Delhi, United Arab Emirates (UAE)'s Minister of State for Foreign Trade Dr Thani Bin Ahmed Al Zeyoudi has said that the pact will add $9 billion to his country's GDP by 2030.

Speaking with WION’s Principal Diplomatic Correspondent Sidhant Sibal from Dubai, the minister said, “Indian businesses will enjoy faster, frictionless access to our market to leverage our position as a gateway to Asia, Africa, and Europe with direct access to more than 400 cities globally."

The FTA is India's first comprehensive trade agreement in a decade and under the deal, duty is eliminated on 80 per cent of tariff lines. The signing of FTA comes when India is celebrating 75 years of Independence &amp; UAE is celebrating the 50th anniversary of its foundation.

The minister explained that it is the "first bilateral trade agreement we have ever signed", adding “It is no mere coincidence that India was the first country with whom we sought such a partnership.”

Minister Thani highlighted that his country expects to conclude trade talks with Israel and Indonesia in the coming weeks and that talks have begun with Turkey, the Philippines, Chile, Georgia and Colombia.

"The CEPA (Comprehensive Economic Partnership Agreement) model is central to our efforts to create a knowledge-driven economy and enhance the nation’s position as a global trade and investment hub."

The FTA or CEPA Comprehensive Economic Partnership Agreement aims at increasing the bilateral non-oil trade between the two countries to $100 billion annually.&nbsp;

WION: How will the recent India-UAE agreement change the trade ties between the two countries?

Thani Bin Ahmed: The UAE-India Comprehensive Economic Partnership Agreement (UAE-India CEPA) builds on the historic trade flows that have benefited people from both countries for centuries. As our third-largest trading partner in the world, we see India as a natural partner and this deal was negotiated to significantly expand opportunities for everyone – from the largest multinational corporations down to the start-ups and entrepreneurs eager to expand their horizons.

Upon ratification, companies will immediately notice the benefits of this deal—removal or reduction of tariffs, mutual access to government procurement, helping SMEs break into new markets and creating a framework to benefit from the potential of digital trade and advanced technology.

By substantially removing duties imposed on traded goods, this deal will open up new opportunities to export aluminium, copper, steel, and polymers such as polyethylene and polypropylene. Indian businesses will enjoy faster, frictionless access to our market to leverage our position as a gateway to Asia, Africa, and Europe with direct access to more than 400 cities globally. Based on our estimates, this deal will add approximately $9 billion to UAE GDP by 2030 and marks a paradigm shift in our ever-deepening relationship with India.

&nbsp;

WION: How do you anticipate Indian goods can reach a wider market with this new agreement, and vice versa? On how many goods have custom duties been removed?

Thani Bin Ahmed: As a strategic trading hub located between some of the world’s fastest-growing regions in the world, and one supported by state-of-the-art infrastructure, the UAE offers Indian businesses seamless access to not only our market but to the rapidly expanding opportunities in the Middle East and Africa, too.

The agreement was carefully structured to ensure that the widest possible mix of sectors will be able derive the maximum value from the deal, so Indian exporters will enjoy enhanced market access to the UAE with the vast majority of duties either reduced significantly or eliminated altogether.&nbsp;&nbsp;

&nbsp;

WION: How many countries has the UAE signed a similar FTA with and how many more could they be signing in the future?

Thani Bin Ahmed: This is the first bilateral trade agreement we have ever signed – and it was no mere coincidence that India was the first country with whom we sought such a partnership. Concluding this historic agreement in five months would not have been possible without the deep and strategic cultural, diplomatic, and economic ties both nations enjoy.

Strengthening international trade is a key objective we are working on to more than double the size of our economy from US$381 billion to US$762 billion in the next decade. We have set an initial target of concluding eight agreements this year. With the UAE-India CEPA finalized and on track for ratification, we expect to conclude talks with Israel and Indonesia in the coming weeks.

We have also opened talks with Turkey, the Philippines, Chile, Georgia and Colombia. Other nations have also expressed an interest and we are keen to work with our partners to rebuild supply chains and ensure that global trade is fair, sustainable and equitable.&nbsp;&nbsp;

&nbsp;

WION: Where does the FTA feature when it comes to larger reforms in your economic outlook and goal to make your country a hub for the world?

Thani Bin Ahmed: To ensure we emerged strongly from the COVID-19 pandemic, the UAE launched a series of bold initiatives to strengthen our economic resilience and accelerate sustainable growth and diversification. In pursuit of this goal, improving and expanding bilateral relations with partners around the world was an important objective. The CEPA model is central to our efforts to create a knowledge-driven economy and enhance the nation’s position as a global trade and investment hub.

Throughout the previous year, we launched a series of initiatives that set the future course for the UAE. These included amending the Companies Law to allow 100 percent foreign ownership – and 100 percent repatriation of profits – for the very first time for onshore entities. We also upgraded our employment law, creating globally competitive freedom and flexibility in the workforce. These important changes complement our expanded economic partnership, offering exporters and investors from Mumbai and Chennai to New Delhi and Ludhiana greater ways to benefit from our business-friendly environment.

&nbsp;

WION: When it comes to liberalised visa regime, how can Indians get help or engage in the process?

Thani Bin Ahmed: This agreement is not about liberalising visa regimes, rather it helps to facilitate the temporary entry of services providers in number of categories, which is extremely important to ensure the efficient flow of trade in services between both nations. Today, there are around 3.5 million Indian nationals who call the UAE home and they have had a transformative effect on our economy. These nationals have formed 4,365 companies across key sectors, from real estate to retail, manufacturing to media. Some of our most impressive entrepreneurial success stories are those of Indian nationals who have arrived in the UAE and built business empires.&nbsp;&nbsp;

&nbsp;

WION: &nbsp;Now with the Abraham Accords, your relationship with Israel has strengthened. Any larger plan for India, UAE, Israel trading ties, some kind of ease in trading relations?

Thani Bin Ahmed: The CEPA model is essential to our goals of deepening cooperation with international parties and allies all around the world. The Abraham Accords was signed more than a year ago to establish diplomatic ties and determine a new future for the region and offer greater opportunity for people around the world. In a complex and fast-changing world, we are striving to build transparent, predictable, and rules-based trading relationships with like-minded nations who share our aspirations for peace and prosperity.

As a tolerant and outward-looking nation, we are speaking with many nations with whom we see positive, mutually beneficial trade and investment potential. We look forward to building closer economic ties with India and Israel, among many others.

&nbsp;

WION: How much investment will we see from the UAE in the Indian Union Territory of Jammu and Kashmir? &nbsp;

Thani Bin Ahmed: Some of the UAE’s largest businesses have committed to invest significantly across real estate, infrastructure, tourism, retail, healthcare and hospitality in Jammu and Kashmir. Deepening strategic ties with the territory will expand commercial cooperation, create jobs, and unlock the area’s tremendous untapped potential.

Dubai’s biggest port operator DP World plans to build an inland port in Jammu and Kashmir. Real estate developer Emaar Properties – the company behind the iconic Dubai Mall and the Burj Khalifa – will build a 500,000 sq. ft shopping mall, while LuLu Group has confirmed plans to set up a new food processing and logistics hub in Srinagar.

This is just the beginning. We are confident more opportunities will emerge once the UAE-India CEPA is ratified this year.

Days after India-UAE signed free trade agreement (FTA) with much fanfare in Delhi, United Arab Emirates (UAE)'s Minister of State for Foreign Trade Dr Thani Bin Ahmed Al Zeyoudi has said that the pact will add $9 billion to his country's GDP by 2030.

Days after India-UAE signed free trade agreement (FTA) with much fanfare in Delhi, United Arab Emirates (UAE)'s Minister of State for Foreign Trade Dr Thani Bin Ahmed Al Zeyoudi has said that the pact will add $9 billion to his country's GDP by 2030. Speaking with WION’s Principal Diplomatic Correspondent Sidhant Sibal from Dubai, the minister said, “Indian businesses will enjoy faster, frictionless access to our market to leverage our position as a gateway to Asia, Africa, and Europe with direct access to more than 400 cities globally." The FTA is India's first comprehensive trade agreement in a decade and under the deal, duty is eliminated on 80 per cent of tariff lines. The signing of FTA comes when India is celebrating 75 years of Independence & UAE is celebrating the 50th anniversary of its foundation. The minister explained that it is the "first bilateral trade agreement we have ever signed", adding “It is no mere coincidence that India was the first country with whom we sought such a partnership.” Minister Thani highlighted that his country expects to conclude trade talks with Israel and Indonesia in the coming weeks and that talks have begun with Turkey, the Philippines, Chile, Georgia and Colombia. "The CEPA (Comprehensive Economic Partnership Agreement) model is central to our efforts to create a knowledge-driven economy and enhance the nation’s position as a global trade and investment hub." The FTA or CEPA Comprehensive Economic Partnership Agreement aims at increasing the bilateral non-oil trade between the two countries to $100 billion annually. WION: How will the recent India-UAE agreement change the trade ties between the two countries? Thani Bin Ahmed: The UAE-India Comprehensive Economic Partnership Agreement (UAE-India CEPA) builds on the historic trade flows that have benefited people from both countries for centuries. As our third-largest trading partner in the world, we see India as a natural partner and this deal was negotiated to significantly expand opportunities for everyone – from the largest multinational corporations down to the start-ups and entrepreneurs eager to expand their horizons. Upon ratification, companies will immediately notice the benefits of this deal—removal or reduction of tariffs, mutual access to government procurement, helping SMEs break into new markets and creating a framework to benefit from the potential of digital trade and advanced technology. By substantially removing duties imposed on traded goods, this deal will open up new opportunities to export aluminium, copper, steel, and polymers such as polyethylene and polypropylene. Indian businesses will enjoy faster, frictionless access to our market to leverage our position as a gateway to Asia, Africa, and Europe with direct access to more than 400 cities globally. Based on our estimates, this deal will add approximately $9 billion to UAE GDP by 2030 and marks a paradigm shift in our ever-deepening relationship with India. WION: How do you anticipate Indian goods can reach a wider market with this new agreement, and vice versa? On how many goods have custom duties been removed? Thani Bin Ahmed: As a strategic trading hub located between some of the world’s fastest-growing regions in the world, and one supported by state-of-the-art infrastructure, the UAE offers Indian businesses seamless access to not only our market but to the rapidly expanding opportunities in the Middle East and Africa, too. The agreement was carefully structured to ensure that the widest possible mix of sectors will be able derive the maximum value from the deal, so Indian exporters will enjoy enhanced market access to the UAE with the vast majority of duties either reduced significantly or eliminated altogether. WION: How many countries has the UAE signed a similar FTA with and how many more could they be signing in the future? Thani Bin Ahmed: This is the first bilateral trade agreement we have ever signed – and it was no mere coincidence that India was the first country with whom we sought such a partnership. Concluding this historic agreement in five months would not have been possible without the deep and strategic cultural, diplomatic, and economic ties both nations enjoy. Strengthening international trade is a key objective we are working on to more than double the size of our economy from US$381 billion to US$762 billion in the next decade. We have set an initial target of concluding eight agreements this year. With the UAE-India CEPA finalized and on track for ratification, we expect to conclude talks with Israel and Indonesia in the coming weeks. We have also opened talks with Turkey, the Philippines, Chile, Georgia and Colombia. Other nations have also expressed an interest and we are keen to work with our partners to rebuild supply chains and ensure that global trade is fair, sustainable and equitable. WION: Where does the FTA feature when it comes to larger reforms in your economic outlook and goal to make your country a hub for the world? Thani Bin Ahmed: To ensure we emerged strongly from the COVID-19 pandemic, the UAE launched a series of bold initiatives to strengthen our economic resilience and accelerate sustainable growth and diversification. In pursuit of this goal, improving and expanding bilateral relations with partners around the world was an important objective. The CEPA model is central to our efforts to create a knowledge-driven economy and enhance the nation’s position as a global trade and investment hub. Throughout the previous year, we launched a series of initiatives that set the future course for the UAE. These included amending the Companies Law to allow 100 percent foreign ownership – and 100 percent repatriation of profits – for the very first time for onshore entities. We also upgraded our employment law, creating globally competitive freedom and flexibility in the workforce. These important changes complement our expanded economic partnership, offering exporters and investors from Mumbai and Chennai to New Delhi and Ludhiana greater ways to benefit from our business-friendly environment. WION: When it comes to liberalised visa regime, how can Indians get help or engage in the process? Thani Bin Ahmed: This agreement is not about liberalising visa regimes, rather it helps to facilitate the temporary entry of services providers in number of categories, which is extremely important to ensure the efficient flow of trade in services between both nations. Today, there are around 3.5 million Indian nationals who call the UAE home and they have had a transformative effect on our economy. These nationals have formed 4,365 companies across key sectors, from real estate to retail, manufacturing to media. Some of our most impressive entrepreneurial success stories are those of Indian nationals who have arrived in the UAE and built business empires. WION: Now with the Abraham Accords, your relationship with Israel has strengthened. Any larger plan for India, UAE, Israel trading ties, some kind of ease in trading relations? Thani Bin Ahmed: The CEPA model is essential to our goals of deepening cooperation with international parties and allies all around the world. The Abraham Accords was signed more than a year ago to establish diplomatic ties and determine a new future for the region and offer greater opportunity for people around the world. In a complex and fast-changing world, we are striving to build transparent, predictable, and rules-based trading relationships with like-minded nations who share our aspirations for peace and prosperity. As a tolerant and outward-looking nation, we are speaking with many nations with whom we see positive, mutually beneficial trade and investment potential. We look forward to building closer economic ties with India and Israel, among many others. WION: How much investment will we see from the UAE in the Indian Union Territory of Jammu and Kashmir? Thani Bin Ahmed: Some of the UAE’s largest businesses have committed to invest significantly across real estate, infrastructure, tourism, retail, healthcare and hospitality in Jammu and Kashmir. Deepening strategic ties with the territory will expand commercial cooperation, create jobs, and unlock the area’s tremendous untapped potential. Dubai’s biggest port operator DP World plans to build an inland port in Jammu and Kashmir. Real estate developer Emaar Properties – the company behind the iconic Dubai Mall and the Burj Khalifa – will build a 500,000 sq. ft shopping mall, while LuLu Group has confirmed plans to set up a new food processing and logistics hub in Srinagar. This is just the beginning. We are confident more opportunities will emerge once the UAE-India CEPA is ratified this year.

India-UAE FTA will add $9bn to UAE's GDP by 2030, says trade minister Thani

India & the UAE have inked a mega trade pact. It could boost bilateral trade to $100 billion, remove 80% tariffs on goods, create 10 lakh jobs for Indians & add $9 billion to the UAE's GDP. Palki Sharma gets you the details of CEPA.

Gravitas: India-UAE sign mega trade pact CEPA

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India, UAE CEPA encourages trade through tariff elimination, says UAE's Economy Minister Marri

India declares one-day mourning following demise of UAE President Sheikh Khalifa, Modi offers condolences

India-UAE FTA will add $9bn to UAE's GDP by 2030, says trade minister Thani

Gravitas: India-UAE sign mega trade pact CEPA