India, UAE Discuss Deepening Comprehensive Economic Partnership

(MENAFN- Kuwait News Agency (KUNA)) NEW DELHI, Sept 1 (KUNA) -- Indian authorities said on Monday that India and the UAE discussed ways of deepening Comprehensive Economic Partnership Agreement between the two countries.
A statement from the Indian Ministry of Commerce and Industry said that Minister of Commerce and Industry Piyush Goyal held a bilateral meeting in Mumbai with Minister of Foreign Trade of the UAE Thani bin Ahmed Al Zeyoudi with the objective of further deepening the India-UAE Comprehensive Economic Partnership Agreement.
Both the sides underlined the importance of working closely in the current global scenario to strengthen the bilateral economic partnership. The Indian minister highlighted the resilience and strengths of the Indian economy. Both the sides agreed to work with diverse partners for mutual benefit.
They reviewed the progress made under Comprehensive Economic Partnership Agreement and reaffirmed the shared vision of expanding bilateral trade towards the target of USD 100 billion non-oil and non-precious metals trade by 2030.
Collaboration in emerging sectors such as renewable energy, digital infrastructure, supply chain resilience, and healthcare also came up for discussion.
"The Indian side welcomed the formation of the Emirates Drug Establishment and its role in addressing concerns of Indian pharmaceutical companies," the statement said.
Both ministers agreed to take up matters related to market access and regulatory issues for early resolution.
The Indian minister welcomed UAE's growing investments in India's infrastructure, logistics, and food processing sectors, and appreciated Thani's leadership in advancing multilateral trade cooperation.
They noted the importance of initiatives such as the Local Currency Settlement System and Bharat Mart in the UAE as enablers of trade facilitation.
The meeting underscored the India-UAE partnership as a defining alliance of the 21st century, rooted in innovation, sustainability, and shared prosperity.
The visiting UAE minister stressed that despite global turbulence, the India-UAE partnership has emerged as a resilient driver of growth while noting that India, now the world's fourth-largest economy and a technological as well as agricultural powerhouse, finds in the UAE a vital gateway to Africa, the Middle East and Europe. (end)
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