Team Blitz India
NEW DELHI: UAE’s top diplomat in India has lauded the UAE-India Comprehensive Economic Partnership Agreement (CEPA) as a “resounding success story,” underscoring its role in solidifying the economic ties between the two nations. Speaking at an event commemorating the second anniversary of CEPA in Mumbai, UAE’s Ambassador to India, Abdulnasser Alshaali underscored the agreement’s significance, emphasising its role in creating new business opportunities and fostering deeper integration of the economies.
“Over the past two years, we have witnessed remarkable growth in bilateral trade, a testament to the immense potential that exists when our complementary strengths are harnessed effectively,” said Alshaali.
He added, “CEPA has not only opened new avenues for businesses to benefit from the bilateral partnership, but has also fostered deeper integration of our economies, paving the way for increased investment flows and collaboration across diverse sectors.”
Alshaali’s optimism and enthusiasm for bilateral relations was also evident in a recent article he authored for The Week magazine. In the article, he emphasised the potential that could be unlocked by effectively leveraging the complementary strengths of both nations. “The numbers speak for themselves. Bilateral trade has reached historic highs, growing from $72.9 billion to $84.5 billion between 2021- 2022 and 2022-2023 – an almost 16 per cent year-on-year increase,” he wrote.
Alshaali attributed the success of CEPA to a history steeped in mutual respect and appreciation for each other’s cultural and social heritage. “Cultural and social integration has always stood as a cornerstone of this robust partnership, stimulating synergies and producing the conditions where diverse communities thrive. The UAE’s commitment to creating a welcoming space for varied cultures echoes India’s ageold tradition of honouring its rich diversity,” he wrote. The establishment of the UAEIndia CEPA Council earlier this year further underscores the commitment of both nations to strengthening their economic partnership.
