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Background
Background
- Prime Minister of India Narendra Modi and Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, met virtually in February 2022 & announced the launch of their free trade agreement or Comprehensive Economic Partnership Agreement.
- PM Modi also visited UAE after the pact during the Dubai Expo in March 2022.
The News
What does the CEPA mean?
- India after leaving RCEP negotiations is looking for more partners for FTA or enhanced economic cooperation.
- UAE on the other side has the benefit of several FTAs within the Gulf Cooperation Council but this is one of few CEPA it has signed independently.
- India and UAE are aiming to cross $100 billion in bilateral trade in 5 years through CEPA.
India UAE CEPA
- Does CEPA and Atmanirbhar Bharat go against each other?
India UAE CEPA v. FTA
India UAE CEPA Benefits
India UAE CEPA Tariffs
- UAE will eliminate tariffs on 97% of the tariff lines (total tariff lines -7581) accounting for 99% of the Indian exports to the UAE in value terms, which includes immediate elimination of tariff on 80.3% lines.
- India will eventually eliminate 11908 tariff lines comprising equivalent number of products. 7694 products (64.61%) have been identified in the Immediate Elimination list.
India UAE CEPA Safeguards
Can other country product come to India via UAE?
Can UAE flood Indian market?
- .!!
- A breakthrough feature of the CEPA is a permanent safeguard mechanism which has been agreed upon and can be resorted to in a situation of sudden surge in imports.
Special features of CEPA
Special features of CEPA
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