Fastest win-win trade pact by two countries ever concluded
India and the UAE will wrap up the Comprehensive Economic Partnership Agreement (CEPA) negotiations by next month, Minister of Commerce and Industry Piyush Goyal told the India Global Forum, UAE-2021, through video conference.
“Hopefully by the end of this month or next month, we hope to conclude them (the negotiations) so that this would probably be one of the fastest trade agreement between two countries ever made,” said Goyal.
The agreement will be a mutually beneficial and a win-win solution for both countries, providing market access to each other.
“Some of the elements of the agreement are the first of its kind, particularly for both countries,” the Minister added at the forum on 13 Dec 2021.
Goyal also told the forum that the Indian economy has been able to “largely recover” this year from the level it had contracted last year due to the “very severe lockdown” imposed to tackle the Covid.
“We have been able to look at very attractive growth rates, second quarter, that’s July-September, we grew at 8.4% which is one of the fastest growing growth rates in the world today.
“Our investments are at an all-time high, we are getting some of the highest FDI or FPI in recent months. Indian businesses are showing more compliant growth, more profitability growth. In the last few months, our exports have been at an all-time high, both merchandise and in services,” said Goyal. fiinews.com
