India and the UAE have achieved another significant milestone, as trade between the two countries has surpassed $100 Billion. It is the result of a specific type of trade agreement, known as the Comprehensive Economic Partnership Agreement (CEPA). It was established by India and the UAE in 2022.
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Addressing the occasion in New Delhi, Abdulnasser Alshaali, Ambassador to India from the UAE, said: “This deal has greatly helped to bolster the economic ties of both countries and has helped drive steady and robust growth for the last few years.” Regarding the future, both countries’ new aim is to double their trade volumes and reach $200 billion by 2032.
