Home
|
Sitemap
|
FAQs
|
Contact Us
Product
Country
Menu
About Agri Exchange
Introduction
Apeda Agri Exchange
The Vision
Benefits / Facilities
To Exporters
To Buyers
Product Profile
Floriculture
Floriculture
Fruits & Vegetables Seeds
Fresh fruits & Vegetables
Fresh Onion
Other Fresh Vegetables
Walnuts
Fresh Mangoes
Fresh Grapes
Other Fresh Fruits
Others (Betel Leaves & Nuts)
Processed Fruits & Vegetables
Cucumber and Gherkins (Prepd. & Presvd.)
Processed Vegetables
Mango Pulp
Processed Fruits,Juices & Nuts
Pulses
Animal Products
Buffalo Meat
Sheep/ Goat Meat
Other Meat
Processed Meat
Animal Casing
Poultry Products
Dairy Products
Natural Honey
Caseins
Albumin (Eggs & Milk)
Other Processed Foods
Groundnuts
Guar Gum
Jaggery & confectionery
Cocoa Products
Cereal Preparation
Milled Products
Alcoholic Beverages
Miscellaneous Preperations
Cereals
Basmati Rice
Non Basmati Rice
Wheat
Maize
Other Cereals
Country Profile
United Arab Emirates
Saudi Arabia
Malaysia
Bangladesh
United States
Vietnam
Kuwait
Iran
United Kingdom
Indonesia
...View more country profiles
FTA's
Analytical Report on FTAs
Tariff Concession under FTAs
Statistics
International Trade
India's Export
India's Import
Production
International Production
India Production
Market Intelligence
e-Bulletin
Global Analytical Report
India's Export Analytical Report
Comparative Report On APEDA Products
Comparative Report On Principal Commodities
Import Tariffs
Import Regulations
SPS Notifications
DGFT : Public Notice, Notifications, Circular and Trade Notice
India Food Safety & Standards
Market Reports
Foreign Trade Policy 2023
Chapter 01 - Legal Framework and Trade Facilitation
Chapter 02 - General Provisions Regarding Imports and Exports
Chapter 03 - Developing Districts as Export Hubs
Chapter 04 - Duty Exemption Remission Schemes
Chapter 05 - Export Promotion Capital Goods (EPCG) Scheme
Chapter 06 - Export Oriented Units (EOUs), Electronics Hardware Technology Parks (EHTPs), Software Technology Parks (STPs) and Bio-Technology Parks (BTPs)
Chapter 07 - Deemed Exports
Chapter 08 - Quality Complaints and Trade Disputes
Chapter 09 - Promoting Cross Border Trade in Digital Economy
Chapter 10 - Scomet: Special Chemicals, Organisms, Materials, Equipment and Technologies
Chapter 11 - Definitions
Newsletters
Latest News
Latest Newsletter
Archives
Directory
Exporters
Service Providers
Logistics
Trade Leads
Submit New lead
Buy Leads
Sell Leads
Indian Mission Login
Market News
India, UAE to review CEPA progress next week, to chalk out data sharing.
Jun 07, 2023
Key officials from India and the United Arab Emirates (UAE) will meet for two days from June 11 to review the progress of the year-old Comprehensive Economic Partnership Agreement (CEPA).
A delegation from the UAE will be in Delhi next to meet key officials from the department of commerce, a person aware of the matter said.
'Officials of Customs departments from both sides are also expected to meet and work out a mechanism towards data sharing, which will aid in deciphering the utilisation of the trade deal,' the official cited above told Business Standard.
Besides, committees will also be set up on each policy area or chapter, such as services, investment, under the trade deal. A business delegation will also be present to discuss investment opportunities in India.
The India-UAE CEPA entered into force on May 1, 2022. Under the deal, both countries have exchanged tariff concessions on products of mutual export interests. The UAE offered tariff concessions to India on over 97 per cent of its tariff lines amounting to 99 per cent of trade in value terms. India, on the other hand, has offered preferential access to the UAE on over 90 per of its tariff lines, including lines of export interest to the UAE.
The UAE is India’s second largest export market, after the United States (US), and third largest trading partner after the US and China at $31.61 billion and $84.84 billion, respectively.
India is hoping to export goods worth $50 billion to the West Asian nation by FY27.
While total trade between both nations grew 16 per cent year-on-year to $84.84 billion in FY23, it was mainly due to higher imports, driven by inbound shipments of oil hitting the domestic shores from the UAE.
Trade deficit stood at $21.62 billion. Government officials, however, pointed out that the deficit was expected to narrow amid cooling down of petroleum prices globally.
During the CEPA implementation period, the bilateral trade increased to $76.9 billion, up 14 per cent YoY. During the same period, India’s exports to the UAE witnessed an 8.5 per cent jump on year to $28.5 billion, while exports to the rest of the world, excluding the UAE grew 3.1 per cent. The jump in exports was mainly due to higher demand for sectors, such as gems and jewellery, machinery and automobiles. Export of products, such as iron and steel and textiles, contracted due to imposition of export restrictions and tepid demand, respectively.
According to the commerce department’s analysis shared last month, during May-March (2022-23), the India-UAE CEPA has surpassed almost all other free trade agreements in terms of utilisation. The number of certificates of origin has been the highest in the case of India-ASEAN FTA at 149,000. This was followed by the trade deal with the UAE as 54,142 certificates of origin were issued to exporters to avail concessional duty advantage under the trade pact.
business-standard.com
Archive