ENA Global 2024-05-31 17:28:25 <p><span style="font-size:14px"><strong>New Delhi, May 31 (KNN)</strong> The United Arab Emirates (UAE) is looking to broaden the scope of its trade agreement with India to further boost bilateral trading volume, according to a senior UAE official.</span></p> <p><span style="font-size:14px">Feryal Ahmadi, Chief Operating Officer of the Dubai Multi-Commodities Centre (DMCC), stated that the UAE wants to add agri-commodities and critical minerals to the Comprehensive Economic Partnership Agreement (CEPA) with India.</span></p> <p><span style="font-size:14px">The UAE and India signed the historic CEPA in February 2022 to enhance their economic ties. India is the largest trading partner for the Emirates.</span></p> <p><span style="font-size:14px">Ahmadi emphasised the growing importance of free trade agreements and trade corridors like the potential India-Middle East-Europe Economic Corridor. She sees more countries pursuing bilateral free trade deals and regional trading blocs.</span></p> <p><span style="font-size:14px">A DMCC report, The Future of Trade, highlighted the trade growth expected from the UAE-India CEPA. It noted the benefits of reducing tariffs and trade barriers while increasing inter-regional market access.</span></p> <p><span style="font-size:14px">The report suggested that strategically located nations like the UAE can serve as key hubs for regional trade and economic integration by fostering partnerships and trade agreements.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 38029 https://knnindia.co.in/news/newsdetails/global/uae-aims-to-expand-cepa-trade-deal-with-india-to-include-agri-commodities-critical-minerals 2024-05-31 17:28:25 knnindia.co.in