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Startups and MSMEs Businesses To Benefit From India-UAE Trade Pact
Current Affairs Milkyway Blogs 11-Mar-2022 Comments (14) 17

Startups and MSMEs Businesses To Benefit From India-UAE Trade Pact

The pact is not only going to enhance commercial ties of India with the Emirati nation, but it will provide an “entry point” to several parts of the Middle 

The CEPA (Comprehensive Economic Partnership Agreement) has linked the UAE (United Arab Emirates) that will benefit startups and MSMEs of the country’s businesses, said Union Commerce Minister, Piyush Goyal.

This pact was signed by Piyush Goyal and the Economy Minister, Abdulla bin Touq Al Marri of UAE during the virtual summit between the Crown Prince of Abu Dhabi named by Sheikh Mohammed bin Zayed Al Nahyan and Prime Minister of India, Narendra Modi on February 18.

According to an official statement, this agreement will provide benefits to businesses in UAE and Indian and UAE, including the enhancement in market access to reduce tariffs.

 While elaborating the benefits of CEPA, Piyush Goyal said that this pact enhances commercial ties of India with the Emirati nation and also provides an “entry point” to several parts of the Middle East and Africa.

“UAE is located strategically and has emerged as the trading hub for Europe, Africa, and the Middle East,” said by Piyush Goyal.

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