goyal-to-discuss-trade-investment-bank-matters-during-uae-visit

Union Minister for Commerce and Industry, Piyush Goyal, who would be on a visit to the United Arab Emirates (UAE) from September 18-19, will discuss the progress of the bilateral pact between India and the UAE whilst there.

Other topics on his agenda would be the double taxation treaty and central bank matters, an official statement said on Wednesday, adding that the minister will hold bilateral meetings focused on strengthening trade, investment, and cooperation across priority sectors.

Goyal will be co-chairing the 13th India-UAE High Level Task Force on Investments (HLJTFI), along with Sheikh Hamed bin Zayed Al Nahyan, the Managing Director of the Abu Dhabi Investment Authority (ADIA).

"The meeting will review progress on the India-UAE Comprehensive Economic Partnership Agreement (CEPA), the Double Taxation Treaty, and UAE-India Central Bank matters," the commerce and industry ministry statement said.

 

Also Read: India, Qatar may finalise terms of FTA by year-end

Both sides will also explore opportunities for investment in key sectors, including maritime and space, that hold strong potential for growth, it added.

The UAE is the seventh largest investor in India, pumping in USD 24 billion in foreign direct investment from April 2000 and June 2025.

Both sides are targeting to increase the bilateral trade in non-oil goods to USD 100 billion by 2030.

During the visit, Goyal will also co-chair the UAE-India Business Council (UIBC) round-table with Thani bin Ahmed Al Zeyoudi, UAE Minister of Foreign Trade, and interact with CEOs of leading Indian and UAE companies.

The 12th HLJTFI, held in Mumbai in October 2024, saw the ratification of the India-UAE Bilateral Investment Treaty.

Established in 2013, the task force has served as a major platform for promoting trade and investment ties between nations, identifying new opportunities and resolving investor issues.

The CEPA, which came into force in May 2022, has nearly doubled bilateral merchandise trade from USD 43.3 billion in 2020-21 to USD 83.7 billion in 2023-24.