India-UAE comprehensive economic pact reflects deep friendship, shared vision and trust between two nations, says PM Modi
India and the UAE on Friday signed a free trade agreement (FTA) to give a fillip to bilateral trade and economic ties. The agreement, dubbed as the Comprehensive Economic Partnership Agreement (CEPA), was signed and exchanged by Commerce and Industry Minister Piyush Goyal and UAE Minister of Economy Abdulla bin Touq Al Marri. The trade agreement was signed during a virtual summit held by Prime Minister Narendra Modi and Crown Prince of Abu Dhabi Sheikh Mohammed bin Zayed Al Nahyan. Briefing media after the signing of the pact, Goyal said this is a comprehensive and balanced trade agreement. "It opens up huge business opportunities for both sides. The agreement will help in doubling our bilateral trade," Goyal said. An official release stated that the agreement will provide significant benefits to Indian and UAE businesses, including enhanced market access and reduced tariffs. It is expected that the CEPA will lead to increase in bilateral trade from the current USD 60 billion to U
A trade agreement is like a game of chess
The minister's statement comes in the backdrop of the US indicating that they are not looking at a new trade agreement with India
The government will have to act swiftly in correcting the protectionist stance and fast-tracking trade agreements, experts said on Tuesday.
Trade facilitation can ease the cross-border movement of goods: Goyal
India likely to kick start talks for FTAs with UK and EU by 2021-end, is also focusing on resuming trade talks with Canada, Australia
India and the European Union (EU) on Saturday announced their decision to resume negotiations for a balanced and comprehensive trade agreement after a gap of eight years
The U.K. left the EU on Jan. 31 of this year but remained subject to the bloc's business regulations and within its customs union during a transition period that ends on Dec. 31
India is committed to an FTA with the UK and it will also be good for Commonwealth countries, he added
The first peace treaty between Israel and an Arab nation since 1994 has profound, perdurable implications for both countries - and for the US
The US president said that commerce between the two nations has increased by more than 40 per cent
A visit by Trump's right hand man for trade negotiations - United States Trade Representative Robert Lighthizer - also remains uncertain
In the process of evolving comparative advantage, some sectors will lose out. This, however, is not typical of FTAs but of all trade
The conflicting viewpoints on RCEP bring out the need for evidence-based policy-making and information sharing
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