India, UAE to discuss trade, investment, bank matters on Sep 18-19

New Delhi, Sep 17 (PTI) India and the UAE will review progress of bilateral trade pact, double taxation treaty and central Bank matters during the two-day visit of Commerce and Industry Minister Piyush Goyal to the gulf country, an official statement said on Wednesday.

Goyal is visiting the United Arab Emirates (UAE) from 18-19 September to co-chair the 13th India-UAE High Level Task Force on Investments (HLJTFI), along with Sheikh Hamed bin Zayed Al Nahyan, 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 said.

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

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.

He will also hold bilateral meetings focused on strengthening trade, investment, and cooperation across priority sectors.

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 vital platform for promoting trade and investment ties, 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.

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

The UAE is the seventh largest investor in India. The country has received USD 24 billion in foreign direct investment from April 2000 and June 2025. PTI RR BAL BAL