Union Commerce and Industry Minister Piyush Goyal will visit the United Arab Emirates (UAE) from September 18–19 to co-chair the 13th meeting of the India-UAE High Level Task Force on Investments (HLJTFI) along with Sheikh Hamed bin Zayed Al Nahyan, Managing Director of the Abu Dhabi Investment Authority (ADIA).
The two sides are expected to review the progress of the Comprehensive Economic Partnership Agreement (CEPA), the Double Taxation Treaty, and discussions between the UAE and India’s central banks. They will also explore new opportunities for investment in sectors such as maritime and space, identified as areas of high growth potential.
During his visit, Goyal will co-chair the UAE-India Business Council (UIBC) roundtable with Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of Foreign Trade, and interact with CEOs of leading Indian and Emirati companies. He will also hold a series of bilateral meetings to strengthen trade, investment and cooperation across priority sectors.
The 12th edition of the HLJTFI, held in Mumbai in October 2024, had ratified the India-UAE Bilateral Investment Treaty signed earlier that year during Prime Minister Narendra Modi’s visit to the UAE. Since its establishment in 2013, the task force has served as a key platform for promoting trade and investment ties, identifying new areas of cooperation, and resolving investor concerns.
The UAE remains one of India’s closest strategic partners. Their Comprehensive Strategic Partnership spans energy, defence, technology and food security, reinforced by strong political engagement and economic integration. The CEPA, which came into effect in May 2022, has nearly doubled bilateral merchandise trade — from USD 43.3 billion in FY 2020–21 to USD 83.7 billion in FY 2023–24 — while driving a major shift towards non-oil trade sectors.
—IANS
