The Comprehensive Economic Partnership Agreement that the UAE and India are signing on Friday marks a “milestone” in their relations and will lead to a "glorious, shared future", according to a top Indian diplomat.
The agreement will open new opportunities in the trade of goods and services, boost investments and deepen the two countries' strategic partnership, S Jaishankar, India’s External Affairs Minister, told the UAE’s state-run news agency WAM on Friday.
"The signing of the UAE-India Comprehensive Economic Partnership Agreement during a virtual summit between our leaders is a milestone event in our bilateral relations," he said.
The Cepa is expected to boost bilateral non-oil trade from to $100 billion in the next five years, from $40bn prior to the Covid-19 pandemic.
The UAE-India Cepa negotiations started five months ago.