News Brief
UAE Agrees To Examine India’s Concerns On Sharp Rise In Silver And Platinum Imports Under CEPA
Signing of the Comprehensive Economic Partnership Agreement between India and UAE (File Photo)
The United Arab Emirates (UAE) has agreed to look into issues raised by India over a sharp increase in the gulf country's exports of silver, platinum alloy, and dry dates to India under the India-UAE Comprehensive Economic Partnership Agreement (CEPA).
India raised the issue of higher imports of silver products, platinum alloy, and dry dates and "urged UAE to verify compliance to the rules of origin norms and ensure that the rules are not circumvented," an official statement said on Tuesday (15 October).
The UAE has agreed to examine the concerns raised by India, the Commerce Ministry said.
The concerns were raised during the second meeting of the Joint Committee (JC) under the India-UAE Comprehensive Economic Partnership Agreement (CEPA) in the UAE on 14 October.
The Indian officials urged officials from the West Asian nations to verify compliance to the rules of origin norms and ensure they are not ‘circumvented’.
In addition, both sides also discussed their aim to attain the target of $100 million in non-oil trade well before 2030.
Currently, UAE is India’s third largest trade partner. The bilateral trade between India and the UAE has experienced remarkable growth, increasing to $83.6 billion in 2023-2024 from $59.5 billion in 2013-2014.
India and the UAE signed a Comprehensive Economic Partnership Agreement (CEPA) in February 2022, which came into effect from May 2022.
