Both nations review CEPA progress, explore deeper cooperation in pharma, healthcare, and traditional medicine
India and the United Arab Emirates (UAE) have set an ambitious goal of achieving $100 billion in bilateral trade by 2030, excluding oil and precious metals, the Commerce Ministry announced on Monday.
The decision came during a review meeting between Union Commerce and Industry Minister Piyush Goyal and UAE’s Minister of Foreign Trade, Dr. Thani bin Ahmed Al Zeyoudi, under the Comprehensive Economic Partnership Agreement (CEPA) that has been in effect since 2022, reported business-standard.com.
CEPA review highlights resilience of Indian economy and new trade opportunities
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Ministers from both sides stressed the importance of working closely to strengthen bilateral trade ties amid global economic challenges
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Goyal highlighted India’s economic resilience, noting its ability to maintain strong growth despite turbulent times
In the pharmaceutical sector, discussions focused on addressing regulatory hurdles and enhancing market access. The UAE conveyed optimism about expediting registration and regulatory processes for Indian pharma products, while India assured readiness for inspections and audits by UAE authorities.
Traditional medicine and ayurveda identified as new growth areas
The talks also explored emerging opportunities in healthcare collaboration, with a special emphasis on traditional medicine, particularly ayurvedic products, as part of the expanding India-UAE partnership.
