New Delhi, May 10 (KNN) The UAE-India Comprehensive Economic Partnership Agreement (CEPA) Council announced on Friday that it has signed a memorandum of understanding with the Indian Chamber of Commerce to help promote trade between the United Arab Emirates and India.

Under the agreement, the two organisations will work together to raise awareness in both countries about the potential benefits of strengthening economic partnerships via the landmark free trade pact that went into effect in May 2022.

Specific initiatives will include highlighting opportunities for companies to capitalise on the CEPA, engaging in dialogue and information sharing, developing programs to educate members, exploring joint events, and facilitating networking between Emirati and Indian businesses.

"The UAE and India have enjoyed close economic ties for decades, and this new agreement lays the foundation to take that partnership to even greater heights," said a spokesperson for the CEPA Council. "We look forward to collaborating with the Indian Chamber of Commerce on these vital efforts."

The CEPA eliminated duties on thousands of product lines, created new labor mobility pathways, and enhanced cooperation across industries like energy, tourism, aviation and more between the two nations.

(KNN Bureau)