fbpx

India and UAE sign the historic CEPA 

  • IASbaba
  • February 19, 2022
  • 0
UPSC Articles
Print Friendly, PDF & Email

India and UAE sign the historic CEPA 

Part of: GS-2: Bilateral, regional and global groupings and agreements involving India and/or affecting India’s interests

In News: India and UAE signed the historic Comprehensive Economic Partnership Agreement (CEPA) aimed at boosting the merchandise trade between the two countries to US$ 100 billion over next five years.

  • India- UAE CEPA sees many firsts including automatic authorization for Indian pharma products, strict rules of origin and safeguard mechanism against surge in imports
  • CEPA to generate 10 lakh jobs across labour-intensive sectors such as Textiles, Gems & Jewellery, Leather, Footwear, Pharma, Agriculture products, Medical Devices, Plastics, Sports Goods and Automobiles

Both nations believe in rules based fair trade, in engaging with each other in a spirit of reciprocity and were determined that people and businesses of both countries must mutually benefit from the deepening engagement.

News Source: PIB

For a dedicated peer group, Motivation & Quick updates, Join our official telegram channel – https://t.me/IASbabaOfficialAccount

Subscribe to our YouTube Channel HERE to watch Explainer Videos, Strategy Sessions, Toppers Talks & many more…

Search now.....