Prime Minister Narendra Modi on Friday held a virtual summit with Abu Dhabi crown prince Sheikh Mohammed bin Zayed Al Nahyan during which India-UAE Comprehensive Economic Partnership Agreement (CEPA) was announced. The agreement will provide significant benefits to Indian and UAE businesses, including enhanced market access and reduced tariffs. It is expected that the CEPA will lead to increase in bilateral trade from the current $60 billion to $100 billion in the next 5 years.
The two leaders also released a joint commemorative stamp on the occasion of the 75th anniversary of India’s independence and the 50th year of the UAE’s foundation on 18th February-2022.
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