MENA Newswire News Desk: Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, attended the India-UAE Business Forum in Mumbai, India, on Tuesday, marking a significant step forward in strengthening bilateral economic ties between the UAE and India. Organized by the UAE Ministry of Economy and the UAE Embassy in India, in cooperation with India’s Ministry of Commerce and Industry, the forum aimed to promote collaboration in sectors such as healthcare, biotechnology, renewable energy, sustainability, AI, logistics, and agricultural technology. The theme of the event was “Beyond CEPA: Innovation and Future-Ready Economies.”
During the forum, Sheikh Khaled emphasized the importance of the UAE-India Comprehensive Economic Partnership Agreement (CEPA) in boosting economic growth between the two nations. He reaffirmed the UAE’s commitment to enhancing cross-border trade, ensuring easy access to markets, and creating a business-friendly environment. Several agreements were signed at the event, including a partnership between the Lulu Group, an Abu Dhabi-based retail giant, and India’s Agricultural and Processed Food Export Development Authority to import Indian organic produce into the UAE. Sheikh Khaled also witnessed the launch of several initiatives aimed at promoting bilateral trade.
Additionally, UAE-based companies like G42 presented technological innovations, including its Hindi language model, NANDA, designed to support the growth of India’s AI ecosystem. Other significant agreements included partnerships between UAE-based Global Jet Technic and Indian airlines to enhance aircraft maintenance services. The forum also saw the Abu Dhabi Chamber of Commerce and Industry sign an agreement with the Confederation of Indian Industry to improve investment opportunities and foster cooperation in the private sectors of both nations. The UAE-India CEPA Council signed agreements with Ras Al Khaimah Economic Zones Authority and Abu Dhabi Chamber to further expand CEPA’s reach.
The UAE delegation, led by Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, included key figures from the UAE public and private sectors. Dr. Al Zeyoudi highlighted the forum’s role in boosting non-oil trade, which grew by 9.8% in the first half of 2024, reaching $28.2 billion. The India-UAE CEPA, established in May 2022, continues to be a driving force behind economic collaboration, facilitating trade, reducing tariffs, and opening new avenues for businesses in both nations.