Union Minister for Trade and Commerce Piyush Goyal and UAE Minister of State for Foreign Trade Dr Thani Ahmed Al Zeyoudi launched negotiations for a mutually beneficial Comprehensive Economic Partnership Agreement (CEPA) here on Wednesday.
Speaking at a joint press briefing with Dr Thani bin Ahmed Al Zeyoudi, Goyal said, "India and UAE are among each other's largest trading partners. Today, we have launched negotiations for a mutually beneficial Comprehensive Economic Partnership Agreement (CEPA)."
Looking to build on the progress made by both countries under the Comprehensive Strategic Partnership signed in 2017, both ministers expressed a desire to reach a mutually beneficial economic deal. The first round of CEPA negotiations will be held on September 23-24, a joint press statement by India's Ministry of Commerce and Industry and UAE's Ministry of State for Foreign Trade said.
Dr Thani bin Ahmed Al Zeyoudi and a high-level UAE delegation are in New Delhi to hold talks aimed at improving bilateral economic relations, including expanding the existing trade and investment relationship.
During the press briefing, Goyal said, "We hope to sign a formal agreement in the early part of 2022 after the completion of internal legal procedures and necessary ratification process."