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UAE-India CEPA Council Strengthens Ties with Bihar’s Business Community for Enhanced Collaboration

Bihar Businesses Eye UAE Opportunities: UAE-India CEPA Council Holds Roundtable

Editor Ritam English by Editor Ritam English
May 22, 2024, 07:35 pm IST
UAE-India CEPA council to foster collaboration with Bihar business community

UAE-India CEPA council to foster collaboration with Bihar business community

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In a step to explore avenues for Bihar-based enterprises, particularly in agriculture and food processing sectors, the UAE-India Comprehensive Economic Partnership Agreement (CEPA) Council joined hands with the Bihar Industries Association (BIA).

The collaborative effort saw a business roundtable on Wednesday, spearheaded by Krishna Prakashsingh Keshri, President of BIA and Director of Amrapali Foods. The event aimed to shed light on leveraging the UAE-India CEPA for Bihar businesses, with a special focus on agriculture.

Ahmed Aljneibi, Director of the UAE-India CEPA Council (UICC), served as a keynote speaker at the event. He emphasized the vast export opportunities available to Bihar enterprises, providing an overview of UAE’s position as a global trading hub, particularly for agricultural commodities.

ALSO READ: “UAE-India Economic Partnership Agreement: Two Years of Boosting Bilateral Trade”

Aljneibi highlighted the significant growth in Bharat’s agricultural exports to the UAE, which amounted to USD 2.62 billion in the fiscal year 2021-22, marking a notable 35% increase from the previous year.

Underlining the priority accorded to sustainable agriculture and food security within the UAE-India CEPA, Aljneibi stressed on driving initiatives for agricultural innovation and cooperation. He discussed the pivotal role of increased agricultural exports and investments in solidifying the UAE’s position as Bharat’s second-largest export destination, third-largest trading partner, and fourth-largest investor.

Aljneibi led a discussion on a recent report commissioned by UICC, titled “The UAE and Opportunities for Bihar’s Agriculture Sector.” The report outlined the potential for agricultural exports from Bihar to the UAE, assessing market demand and legal requirements necessary for creating new export opportunities.

The roundtable concluded with an open discussion on enhancing engagement between the UAE and businesses from Bihar.

Key measures to ease regulatory obstacles for importers and exporters were deliberated upon, highlighting efforts by both UAE and Bharatiya governments under the CEPA to facilitate trade, boost innovation and investment, simplify regulations, and reduce tariffs.

The UAE-India CEPA, hailed as a cornerstone of the enduring relationship between the two countries, continues to foster mutual growth and prosperity. The UICC remains committed to nurturing open dialogue, facilitating tangible cooperation, and accelerating trade ties between UAE and Bharatiya businesses, aimed at cultivating mutual progress and growth with prosperity.

Tags: CEPAUAE-IndiaBihar
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