UAE Minister of Economy Abdulla bin Touq Al Marri on Friday said the Comprehensive Economic Partnership Agreement (CEPA) signed today with India will be the foundation stone for this next era of success.
Al Marri made these remarks after India and UAE signed CEPA today.
Speaking at joint press conference, UAE Minister of Economy, Abdulla bin Touq Al Marri said, “By signing this agreement, the United Arab Emirates and India are writing a momentous new chapter in our shared history.”
Al Marri said that the UAE-India Comprehensive Economic Partnership Agreement is a milestone for both nations that builds on decades of enterprise and exchange to establish a new era of progress and prosperity for people in both countries.
Al Marri highlighted that last summer, in preparation for the nation Golden Jubilee, the UAE government launched a series of bold initiatives to pave the way for the 50 years of growth and opportunity. “The goal was clear to double the size of our economy from 1.4 trillion Dirham’s to 3 trillion Dirhams by 2030,” he said.
“This required bold new strategies for diversification, including embracing the Fourth Industrial Revolution, integrating advanced technology across the economy, enhancing our research and development capabilities when incubating the industries of the future,” the UAE Minister said.
As the world enters into the third year of the COVID-19 pandemic, UAE Minister said the pandemic impact on the free flow of goods has affected every aspect of economic life, from manufacture to construction, from retail to medicine. It understood the importance of strong reliable transparent global supply chains. It challenged us to expand international trade ambitions, he added.