India-UAE Sign Historic CEPA Aimed At Boosting Goods Trade To US$ 100 Billion Over Next Five Years
New Delhi, February 19 (TNA) India and UAE have signed the historic Comprehensive Economic Partnership Agreement (CEPA) aimed at boosting the merchandise trade between the two countries to US$ 100 billion over next five years. The deal was signed during the virtual summit meeting between Prime Minister Narendra Modi and H.E. Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi.
The government has emphasized that the Agreement was not an interim arrangement but a complete and comprehensive economic partnership finalized in the shortest possible time in history. Teams on both sides for successfully concluded one of the most balanced, fair and equitable agreements in just 88 days.
Emphasizing that CEPA would generate 10 lakh jobs across multiple labour-intensive sectors, the union Minister Piyush Goyal has said that major sectors like gems and jewellery, textiles, leather, footwear, furniture, agriculture and food products, plastics, engineering goods, pharmaceuticals, medical devices, sports goods etc. will benefit from this deal and create large scale, employment for our young boys & girls.