India and the UAE successfully concluded the second Joint Committee (JC) meeting under the India-UAE Comprehensive Economic Partnership Agreement (CEPA) yesterday in the UAE. The Indian delegation was led by Shri Ajay Bhadoo, Additional Secretary, Department of Commerce, Government of India, while the UAE side was co-chaired by H.E. Juma Al Kait, Assistant Undersecretary for International Trade Affairs, Ministry of Economy of the UAE.
The meeting focused on strengthening trade partnerships, reviewing the progress of the CEPA, and setting new targets for the future.
Growing Trade and Future Goals
Both sides discussed the substantial growth in bilateral trade since the implementation of CEPA. They expressed optimism in reaching the target of $100 billion in non-oil trade before the year 2030. The meeting highlighted the efforts to enhance two-way trade and reviewed the progress from the first Sub-Committee Meeting on Trade in Goods, held in January 2024.
India and the UAE agreed to set up a technical group of experts to improve the exchange of trade-related data. This group will work to understand each other’s statistical systems and create methods for harmonizing bilateral trade statistics. By doing this, both countries will gain a clearer understanding of trade patterns and make it easier to compare data.
Tariff Rate Quotas and Benefits for Exporters
One important topic of discussion was the implementation of Tariff Rate Quotas (TRQs) on specific products. Both countries agreed to cooperate closely to ensure that UAE exporters can fully benefit from TRQs. The Indian side mentioned that the procedures for allocating TRQ licenses had been adjusted based on feedback from stakeholders. This change aims to make the process smoother for businesses.
Support for Indian Jewellery Manufacturers
India raised a request to have the Indian Jewellery Exposition Center in Dubai categorized as a Designated Zone. This would allow Indian jewellery manufacturers, including those not registered under UAE regulations, to benefit from concessional duties. The UAE side responded positively and said they would consider the request after consulting internal stakeholders and federal tax authorities.
Animal Product Exports and Halal Certification
India also requested that the UAE recognize the i-CAS Halal scheme. If approved, this would simplify the certification process for Indian animal products and boost exports to the UAE. The two countries agreed to continue discussions on this issue and work toward a solution that benefits both sides.
Fast-Tracking Pharma Products
Another key topic was the discussion about fast-tracking the registration and pricing mechanisms for pharmaceutical products. Both countries agreed to work together to finalize a Memorandum of Understanding (MoU) on food safety, which would ensure the safety and quality of food products traded between the two nations.
Enhancing Trade in Services
The trade in services between India and the UAE was another major focus. Both sides exchanged focal points and agreed to hold the first Sub-Committee Meeting on Services soon. India stressed the need for professional bodies from both countries to establish Mutual Recognition Agreements. These agreements would allow professionals such as chartered accountants, lawyers, and nurses to work in either country without requiring additional certifications.
Addressing Issues on Imports
India raised concerns about the recent increase in imports of silver products, platinum alloy, and dry dates from the UAE. India urged the UAE to verify compliance with the rules of origin norms to ensure that these products are not bypassing trade rules. The UAE agreed to investigate these concerns and work towards a solution.
Strengthening Relations
Both sides agreed to hold the next Joint Committee meeting in India at a mutually convenient time. The visit of the Indian delegation, led by Additional Secretary Shri Ajay Bhadoo, reinforced the close ties of friendship and cooperation between the two countries.
Conclusion
The second JC meeting under the India-UAE CEPA marks another step toward strengthening the economic partnership between India and the UAE. Both countries are committed to enhancing trade, improving data sharing, and addressing issues related to services, tariffs, and product imports. As the partnership grows, both India and the UAE are optimistic about reaching their trade goals and fostering closer economic ties in the future.
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