UAE Minister of Trade with Minister Piyush Goyal, also seen is billionaire Yousuf Ali

Ahmedabad: At the ongoing Vibrant Gujarat Global Summit in Ahmedabad, hosts India and the UAE on Wednesday launched the UAE-India CEPA Council (UICC) to encourage close partnerships and tangible cooperation across all levels of the UAE and Indian business communities, according to an official press statement.

The launch was attended by the UAE Minister of State for Foreign Trade, Dr. Thani bin Ahmed Al Zeyoudi and Union Minister of Commerce and Trade, Piyush Goyal.

The CEPA council will emphasise on critical industries such as start-ups, women entrepreneurs, micro, small, and medium-sized enterprises (MSMEs), and the services sectors.

The launch was part of the UAE-India Business Summit, which coincided with the ongoing Vibrant Gujarat Global Summit 2024.

The business summit involving the two nations was held under theme of 'Two Nations, One Vision'.

The event marked yet another important milestone in the UAE-India economic partnership, with the unveiling of a range of new initiatives aimed at further bolstering the strategic bilateral partnership.

Speaking on the occasion, UAE Minister of State for Foreign Trade Dr. Thani bin Ahmed Al Zeyoudi said, "The launch of the UAE-India CEPA Council underlines the strength of our economic partnership. The Council is a testament to the shared vision of creating a dynamic and resilient economic relationship, driving sustainable growth, and prosperity for both our nations."

Highlighting the significance of economic cooperation between the UAE and India, Union Minister Piyush Goyal said, "The UAE-India Business Summit reflects our shared commitment to economic growth, innovation, and mutual prosperity. This summit serves as a catalyst for the next phase of our economic collaboration and our common journey towards a greater shared growth. The launch of the UICC is a significant step in providing a structured framework to businesses keen to explore bilateral trade opportunities, thus strengthening economic cooperation between the UAE and India."

The UAE Ambassador to India, Dr. Abdulnasser Alshaali said, "The UAE-India Business Summit reinforces the strategic collaboration between our nations, charting a path for new avenues of growth and cooperation. Our shared commitment to sustainable development and inclusive growth is evident in the initiatives unveiled today, and I am confident that this partnership will continue to flourish."

The summit also provided the opportunity for participants to take part in a range of focused sessions on trade finance, investment facilitation, and the gems and jewellery trade.

Further according to the press statement, the Vibrant Gujarat Global Summit for which the UAE enlisted its participation as a partner country, marked a significant milestone in fostering international collaboration and was inaugurated by Prime Minister Narendra Modi.

The summit has evolved into India's premier platform for promoting business networking and knowledge sharing since its inception in 2003.

Gujarat Chief Minister Bhupendrabhai Patel also held several meetings with the visiting dignitaries on the sidelines of the summit.

The UAE's representation was at the highest level, with President Sheikh Mohamed bin Zayed Al Nahyan gracing the event as the chief guest.

A robust delegation of over 250 from the UAE, spanning across diverse sectors such as retail, energy, and finance, underscored the commitment to bilateral economic cooperation.

This summit continues to play a pivotal role in facilitating dialogue, fostering innovation, and enhancing partnerships on a global scale, according to a media release.