Strengthening Economic Ties: UAE-India CEPA Council's strategic partnership with Indian Chamber of Commerce is therefore a relevant initiative to sustain the momentum created through new FTA agreement.

 

In a period in which the world deals with global economic partnerships as essential and fundamental links for achieving growth and development, the recently signed UAE-India CEPA Council Council (UICC) and the Indian Chamber of Commerce (ICC) between UICC and ICC is definitely a positive move towards building strong economic links between UAE and the Republic of India. This is a strategic alliance that seeks to improve the trade relations, to create investment opportunities and to raise the level of awareness on the great potential of the economic partnership between the two countries.The MoU will embody a comprehensive framework of joint collaboration for a CEPA and greater interaction between businesses in both nations headquartered through the CEPA. Sharing resources and knowledge is their strength, these bodies are, therefore, ready to enhance the visibility of the bilateral trading relation and in the process get more Indian businesses and those from the UAE engaged with each other.The main goal of this alliance is to create a greater awareness of the benefits from the UAE-India CEPA in the two countries. The UICC and the ICC in combination can run media campaigns in this regard, with the emphasis being placed on the benefits offered by the CEPA, among them the promotion of trade, stimulation of investment as well as enhanced business growth. The initiative particularly intends to inform all participating stakeholders concerning the alleged advantages of the bilateral economic partnership in order to arouse enthusiasm and to promote the increase of engagements from UAE and Indian businesses.The private sector plays a critical role in economic growth, the UICC and ICC are working to bring the leading business community figures from the UAE and India together. Through their mutual communication and the collaboration of these bodies between the companies of the firms and government authorities, the members of this partnership strive to enhance economic generating conditions and investments from abroad. Joint ventures, advocacy programs and reform packages ranging from trade agreements and preferential treatment to innovation and networking all are supported by the UICC-ICC in their efforts to achieve their common objectives.The UAE and India are both strong in the fields of economy and they are mutually complementary in the sectors of technology, energy, infrastructure and healthcare. The UAE-India CEPA as such paves the way to a higher level of integration, providing the conditions for enough market access available, lower barriers in trade, and the future bilateral cooperation in the dialogue. Consumers from both parties may therefore benefit from the CEPA provisions by exposing their businesses to new markets, establishing synergistic partnerships and exploiting the gains of current market trends.Now, as the UAE and India are about to start this economic collaboration, the partnership of UICC and ICC is the proof of their common intention to achieve prosperity and growth together. Utilizing joint capacities of partner networks and resources in order to achieve economic sustainability and the creation of job openings is the key goal; therefore, both countries will benefit from staff and overall business prosperity.The fact that the UAE-India CEPA Council and Indian Chamber of Commerce sign a memorandum of understanding involving a strategic partnership to promote mutual economic cooperation between the UAE and India signifies the level of commitment on both sides to this bilateral economic partnership. The CEPA between the UAE and India will be achieved through the joint efforts in raising the awareness, mobilizing the support, and unlocking the potential of both nations. This partnership will create new opportunities, drive innovation, and deepen the economic cooperation between two dynamic nations.