India, UAE to sign trade pact by Mar 2022; Round-1 of CEPA talks this week

A new strategic economic pact is expected to increase bilateral trade in goods to $100 bn, services t $15 bn in 5 years

India and the United Arab Emirates (UAE) have formally launched negotiations on a Comprehensive Economic Partnership Agreement (CEPA) that aims at expanding bilateral trade and investment between the two nations.

The first round of CEPA negotiations will be held on Thursday and Friday. Both nations aim to sign a deal in six months.

A new strategic economic agreement between both nations is expected to increase bilateral trade in goods to $100 billion within five years of the agreement being signed and increase trade in services to $15 billion.

"Both sides will aim to conclude negotiations by December 2021 and sign