Sep 09, 2024 09:17 PM IST
The outlook for UAE-India bilateral ties is bright, with numerous opportunities for collaboration across various sectors
Recent years have witnessed a range of watershed moments in the United Arab Emirates (UAE)-India bilateral relationship. Across all facets of the partnership, we have experienced not only growth and renewal but also a deepening of the historical bonds of friendship and cooperation we have long shared.
The official visit to India of Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, the Crown Prince of Abu Dhabi, this week is a testament to the strength and continuous enhancement of the relationship and attests to the importance the UAE places upon its strategic partnership with India. The occasion of this visit also provides an opportunity to reflect upon the transformative impact our ties have had, and will continue to have in the years to come.
From growing strategic alignment to the UAE’s emergence as India’s second-largest export destination, third-largest trading partner, and fourth-largest investor, political, economic, and cultural ties between the UAE and India have never been as strong as they are today.
Fundamental to the continued expansion of our strategic partnership is the recognition of both governments that it is essential that our societies are able to obtain tangible benefits from the strong strategic foundations we have built. Across all areas of our relationship, Emiratis and Indians, on a daily basis, are reaping the rewards of the closer economic integration, cultural inclusivity, and political understanding we have consistently sought to foster.
These dynamics can be discerned in the positive impacts of the UAE-India Comprehensive Economic Partnership Agreement (CEPA). Since the CEPA’s implementation on May 1, 2022, the UAE and India have witnessed both a qualitative and quantitative shift in our strategic relationship.
In two years alone, total trade between our two countries has increased by nearly 15%, with the UAE’s exports to India expanding by over 7% and Indian exports to the UAE rising by an impressive 27%. Significantly, the CEPA has contributed to a rapid change in the composition of our trade. We are witnessing a decreased reliance on hydrocarbons as the key commodity, which has traditionally shaped trade ties. In fact, total non-oil trade between the UAE and India registered a 20% increase in 2023-24. This is a considerable achievement and underscores the direct benefits of the CEPA to the UAE’s and India’s vital non-oil economic sectors.
I have been fortunate to observe the progressive and constructive effects of this agreement first-hand through the UAE-India CEPA Council — a platform that has been specifically designed to promote grassroots-level engagement and open dialogue between the governments and businesses of our two countries. Direct interactions with businesses across the length and breadth of India, including green mobility manufacturers in Andhra Pradesh, organic farmers in West Bengal, and biotechnology entrepreneurs in Maharashtra, have underscored that India’s diversity is fundamental to its economic prosperity and future growth. It is this societal dynamism and cultural diversity that will be crucial in pushing the boundaries of possibilities beyond the CEPA into all other facets of our ties.
In nurturing these strengths to the mutual benefit of both countries, the UAE remains dedicated to the continued building of inclusive partnerships with India that stretch far beyond the critical power centres of New Delhi and Mumbai, to emerging cities such as Vijayawada, Bhubaneswar, Patna, and Jaipur. Not only that, we also wish to energise the development of new initiatives, such as the UAE-India Cultural Council, which will bring greater awareness to our shared historical bonds and rich cultural tapestries. We seek to further develop platforms like the UAE-India Start-up Bridge to ensure the entrepreneurial spirit of our two peoples is fully unlocked. And finally, we are committed to embracing a visionary approach to fields such as aviation, where we believe there is no limit to the benefits that can be achieved through the provision of greater connectivity and improved choice for our increasingly agile and internationally mobile societies.
The outlook for UAE-India bilateral ties is bright, with numerous opportunities for collaboration across various sectors. As both nations look to establish new avenues for cooperation in our partnership, fertile ground exists to further leverage our complementary economic strengths and shared cultural values to build a resilient, inclusive, and prosperous future together.
Abdulnasser Alshaali is the ambassador of the United Arab Emirates to India.The views expressed are personal
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