The Comprehensive Economic Partnership Agreement (CEPA) between India and the UAE is a significant trade deal aimed at enhancing economic ties and fostering mutual growth. Focusing on reducing tariffs and opening new trade avenues, CEPA promises substantial opportunities for businesses in both nations. Discussions are ongoing to expand CEPA, ensuring private sectors in India and the UAE fully leverage the agreement’s benefits.
In an exclusive interview, UAE Minister of the Economy Abdulla Bin Touq emphasized that this partnership transcends economic gains, strengthening people-to-people connections. The UAE’s revamped visa policies facilitate greater mobility and talent exchange, highlighting the partnership’s holistic approach.
The collaboration extends to future technologies, with joint ventures in digital infrastructure and artificial intelligence. Recent agreements in renewable energy, food processing, and healthcare underscore the commitment to leveraging technology for economic growth and societal development. A new MoU sets a framework for expanding bilateral investment in digital infrastructure, AI, R&D, and innovation.
The UAE has introduced flexible visa programs to enhance talent and tourism flow. The Golden visa offers long-term residency for foreign talents, while the green visa allows self-sponsorship for five years. The virtual work visa accommodates remote workers, and the blue visa grants 10-year residency for environmental contributions. Multiple entry tourist visas are also available.
With 3.3 million Indians projected in the UAE by year-end and 3.1 million Indian tourists visiting in 2022, the India-UAE relationship is robust. Approximately 1,800 flights connect Indian cities to various UAE emirates monthly, facilitating strong bilateral ties.
Source: Financial Express