The effect of the India UAE CEPA agreement is that it will make a stronger trade relationship between countries. As a first thing this will make possibilities of newer employment opportunities in both countries. To have an office in the UAE for faster actions on the CEPA agreed with terms, India will have a dedicated office – India Mart, in Dubai’s Jebel Ali Free Zone area.
Cultural: India and UAE share a long relationship and an old heritage. Cultural activity is a part of both countries for ages. Sharing of cultural events, doing various projects are also in the pipeline. The UAE’s Ministry of Foreign Affairs and International Relations and India’s Indian Council for Cultural Relations ( ICCR ) will coordinate. To boost up such relations.
Green Hydrogen: To improve and work more in the technological sector, India and the UAE will jointly set up a Hydrogen Task Force. This team will concentrate on producing green hydrogen. For this, not only governments, companies in both countries and private – public partnership ventures will be allowed.
Moreover the CEPA pact between India and the UAE is the first of its kind by India in the MENA – the Middle East and North Africa region. India is having a CEPA agreement already with Canada. It is negotiating with Sri Lanka in this regard as well. Also, the pact will pave way for having a Free Trade Agreement – FTA between the countries.
Effect of India UAE CEPA Agreement