Abdulla bin Touq, the UAE’s Minister of Economy, has said the Emirates and India present a comprehensive economic partnership model for the world, as they continue to build on their strategic relations.
Mr bin Touq made his remarks during a session on “minilateralism” and the future of global trade at the annual Confederation of Indian Industry conference held in New Delhi on May 24 and May 25. The session was attended by representatives of various UAE and Indian companies, global investors and businessmen.
“The UAE-India partnership is a driver for economic growth that creates trade and investment opportunities for over 3.8 billion people,” Mr bin Touq said.
“Our solid economic partnership contributes to the vitality of trade and investment flows in South Asia and through it towards regional and global markets.”
The UAE signed its first comprehensive economic partnership agreement with India in February last year and it took effect the following May. The benefits of the Cepa include enhanced market access, lower or eliminated tariff rules, simpler customs procedures, clear and transparent rules, and rule-based competition.
In the first 11 months of the agreement – between May 1, 2022 and March 31, 2023 – bilateral non-oil trade reached $45.5 billion. Non-oil trade between the UAE and India is expected to exceed $50 billion this year, aiming to achieve their goal of reaching $100 billion by 2030 after signing a major economic pact.
Mr bin Touq said the UAE is keen to support the Indian government’s vision to raise the gross domestic product to $5 trillion by 2025, as well as its future expansion plans in the multilateral trading system.
“The two countries are accelerating efforts, hand in hand, to develop our economies and adopt plans, strategies and initiatives that support our visions for expansion and investment in the new economy sectors,” he added.
CII is a non-governmental organisation with about 9,000 members employed in the government and private sectors.
UAE’s Investopia, the global investment platform, also signed an initial agreement with the CII to enable the exchange of knowledge and dialogue between business delegations.
The two entities agreed to organise joint events and conferences to enhance communication at the private sector level, thereby strengthening economic and investment ties between the two countries.
Investopia is one of the events included in the Projects of the 50 developmental and economic initiative announced by the UAE government in 2021, aimed at accelerating the nation’s growth over the next five decades.
The summit’s inaugural event took place in March last year along with the World Government Summit in Dubai.
Killing of Qassem Suleimani
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The five pillars of Islam
1. Fasting
2. Prayer
3. Hajj
4. Shahada
5. Zakat
More on animal trafficking
RACE SCHEDULE
All times UAE ( 4 GMT)
Friday, September 29
First practice: 7am - 8.30am
Second practice: 11am - 12.30pm
Saturday, September 30
Qualifying: 1pm - 2pm
Sunday, October 1
Race: 11am - 1pm
Abu Dhabi Sustainability Week
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Sri Lanka-India Test series schedule
- 1st Test India won by 304 runs at Galle
- 2nd Test Thursday-Monday at Colombo
- 3rd Test August 12-16 at Pallekele
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New process leads to panic among jobseekers
As a UAE-based travel agent who processes tourist visas from the Philippines, Jennifer Pacia Gado is fielding a lot of calls from concerned travellers just now. And they are all asking the same question.
“My clients are mostly Filipinos, and they [all want to know] about good conduct certificates,” says the 34-year-old Filipina, who has lived in the UAE for five years.
Ms Gado contacted the Philippines Embassy to get more information on the certificate so she can share it with her clients. She says many are worried about the process and associated costs – which could be as high as Dh500 to obtain and attest a good conduct certificate from the Philippines for jobseekers already living in the UAE.
“They are worried about this because when they arrive here without the NBI [National Bureau of Investigation] clearance, it is a hassle because it takes time,” she says.
“They need to go first to the embassy to apply for the application of the NBI clearance. After that they have go to the police station [in the UAE] for the fingerprints. And then they will apply for the special power of attorney so that someone can finish the process in the Philippines. So it is a long process and more expensive if you are doing it from here.”
Dubai World Cup nominations
UAE: Thunder Snow/Saeed bin Suroor (trainer), North America/Satish Seemar, Drafted/Doug Watson, New Trails/Ahmad bin Harmash, Capezzano, Gronkowski, Axelrod, all trained by Salem bin Ghadayer
USA: Seeking The Soul/Dallas Stewart, Imperial Hunt/Luis Carvajal Jr, Audible/Todd Pletcher, Roy H/Peter Miller, Yoshida/William Mott, Promises Fulfilled/Dale Romans, Gunnevera/Antonio Sano, XY Jet/Jorge Navarro, Pavel/Doug O’Neill, Switzerland/Steve Asmussen.
Japan: Matera Sky/Hideyuki Mori, KT Brace/Haruki Sugiyama. Bahrain: Nine Below Zero/Fawzi Nass. Ireland: Tato Key/David Marnane. Hong Kong: Fight Hero/Me Tsui. South Korea: Dolkong/Simon Foster.
Killing of Qassem Suleimani
If you go...
Etihad Airways flies from Abu Dhabi to Kuala Lumpur, from about Dh3,600. Air Asia currently flies from Kuala Lumpur to Terengganu, with Berjaya Hotels & Resorts planning to launch direct chartered flights to Redang Island in the near future. Rooms at The Taaras Beach and Spa Resort start from 680RM (Dh597).
Bullet%20Train
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Players Selected for La Liga Trials
U18 Age Group
Name: Ahmed Salam (Malaga)
Position: Right Wing
Nationality: Jordanian
Name: Yahia Iraqi (Malaga)
Position: Left Wing
Nationality: Morocco
Name: Mohammed Bouherrafa (Almeria)
Position: Centre-Midfield
Nationality: French
Name: Mohammed Rajeh (Cadiz)
Position: Striker
Nationality: Jordanian
U16 Age Group
Name: Mehdi Elkhamlichi (Malaga)
Position: Lead Striker
Nationality: Morocco
Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
