{"id":276985,"date":"2024-01-09T18:57:48","date_gmt":"2024-01-09T13:27:48","guid":{"rendered":"https:\/\/forumias.com\/blog\/?p=276985"},"modified":"2024-01-09T18:57:48","modified_gmt":"2024-01-09T13:27:48","slug":"on-the-uae-india-cepa-council-uicc-the-uae-india-partnership-has-a-new-catalyst-in-play","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/on-the-uae-india-cepa-council-uicc-the-uae-india-partnership-has-a-new-catalyst-in-play\/","title":{"rendered":"On the UAE-India CEPA Council (UICC) – The UAE-India partnership has a new catalyst in play"},"content":{"rendered":"

Source:<\/strong> This post on the UAE-India CEPA Council (UICC) has been created based on the article \u201cThe UAE-India partnership has a new catalyst in play\u201d<\/strong> published in \u201cLive Mint\u201d<\/strong> on 9th <\/sup>January 2024.<\/p>\n

UPSC Syllabus Topic: <\/strong>GS Paper 2 International Relations – Bilateral groupings and agreements involving India and\/or affecting India\u2019s interests.<\/p>\n

News:<\/strong> The article discusses the recent growth in UAE-India bilateral relations due to Comprehensive Economic Partnership Agreement (CEPA). It also highlights the objectives of the UAE-India CEPA Council (UICC).<\/p>\n

The United Arab Emirates-India relationship is one of the region\u2019s most dynamic partnerships. It highlights the positive benefits that can be achieved through open, consistent and constructive dialogue; visionary leadership; and mutual respect<\/strong>.<\/p>\n

It has shown exemplary progress in ensuring free and open trade<\/strong>, promoting the development of resilient and sustainable economies<\/strong>, to multilateral cooperation<\/strong>.<\/p>\n

The Comprehensive Economic Partnership Agreement (CEPA)<\/strong><\/a> remains fundamental to the continued dynamism of this partnership.<\/p>\n

What have been the outcomes of India-UAE CEPA?<\/strong><\/h2>\n

The CEPA has led to:<\/p>\n

    \n
  1. Expanded market access for Emirati and Indian businesses seeking to enter each other\u2019s respective markets<\/li>\n
  2. Significant decrease in tariffs.<\/li>\n
  3. Streamlined customs procedures.<\/li>\n
  4. Introduction of a series of robust and transparent regulations that support rules-based competition.<\/li>\n<\/ol>\n

    Due to this, UAE has become one of India\u2019s most important economic partners. It has risen to the position of India\u2019s 4th<\/sup> largest investor<\/strong>, 3rd<\/sup> largest trading partner<\/strong> and 2nd<\/sup> largest export destination.<\/strong><\/p>\n

    What have been the outcomes of the CEPA in addition to strengthened economic bonds?<\/strong><\/h2>\n

    According to the author, the CEPA has done much more than strengthen our economic bonds. This includes:<\/p>\n

      \n
    1. Led to much deeper and more nuanced<\/strong> (which consider all factors and stakeholders) relations<\/strong>.<\/li>\n
    2. Encouraged strategic and political alignment<\/strong> never seen before in the history of the relationship. This includes:<\/li>\n
    3. Support at Multilateral Fora:<\/strong> India\u2019s support throughout the UAE’s presidency of CoP-28, and that of the UAE of India\u2019s G20 presidency, are indicative of the mutual support.<\/li>\n
    4. BRICS Membership: <\/strong>UAE’s recent addition to the BRICS grouping will serve to further catalyse bilateral ties and promote peace and prosperity at the global level.<\/li>\n<\/ol>\n

      Apart from this, at this year\u2019s Vibrant Gujarat Summit, the UAE-India CEPA Council (UICC) <\/strong>will be officially unveiled.<\/p>\n

      What will be the objectives of the UICC?<\/strong><\/h2>\n
        \n
      1. Outlet to Deepen Commercial Ties: <\/strong>It will provide a dynamic new outlet for the business communities of the two countries to deepen commercial ties.<\/li>\n
      2. Leverage India-UAE Strategic Partnership: <\/strong>The Council seeks to leverage the rapidly developing strategic partnership between the two governments.<\/li>\n
      3. Encourage Business Partnerships:<\/strong> It seeks to encourage partnerships across all levels of the two business communities. It will focus on critical spheres such as startups, women\u2019s entrepreneurship, MSMEs and the services sector.<\/li>\n
      4. Holding Events to build Trust: <\/strong>It will facilitate a range of events that support trust, dialogue and open engagement among the business communities.<\/li>\n<\/ol>\n

        Thus, the Council will provide business communities with the resources they need to fully unlock the benefits and opportunities of CEPA.<\/p>\n

        Question for practice:<\/strong><\/p>\n

        The India-UAE Comprehensive Economic Partnership Agreement (CEPA) has elevated the bilateral relations, economic and otherwise. Elaborate.<\/p>\n","protected":false},"excerpt":{"rendered":"

        Source: This post on the UAE-India CEPA Council (UICC) has been created based on the article \u201cThe UAE-India partnership has a new catalyst in play\u201d published in \u201cLive Mint\u201d on 9th January 2024. UPSC Syllabus Topic: GS Paper 2 International Relations – Bilateral groupings and agreements involving India and\/or affecting India\u2019s interests. News: The article… Continue reading On the UAE-India CEPA Council (UICC) – The UAE-India partnership has a new catalyst in play<\/span><\/a><\/p>\n","protected":false},"author":10320,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1230,9],"tags":[212,239,10501],"class_list":["post-276985","post","type-post","status-publish","format-standard","hentry","category-9-pm-daily-articles","category-public","tag-gs-paper-2","tag-international-relations","tag-live-mint","entry"],"jetpack_featured_media_url":"","views":{"total":11,"cached_at":"","cached_date":1704843769},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/276985","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10320"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=276985"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/276985\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=276985"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=276985"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=276985"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}