UAE-India CEPA Council Seeks to Transform Bihar into Agricultural Export Powerhouse

Last Updated on May 26, 2024 5:21 pm

In a significant move to bolster regional economic development, the UAE-India Comprehensive Economic Partnership Agreement (CEPA) Council, in collaboration with the Bihar Industries Association (BIA), held a pivotal business roundtable on Wednesday. The focus of the event was on unlocking export potential for Bihar’s agriculture and food processing sectors, leveraging the benefits of the UAE-India CEPA.

Krishna Prakashsingh Keshri, President of the BIA and Director of Amrapali Foods, moderated the session, which featured Ahmed Aljneibi, Director of the UAE-India CEPA Council (UICC), as the keynote speaker. Aljneibi outlined the extensive export opportunities that CEPA presents to Bihar-based enterprises, emphasizing the UAE’s role as a critical global trading hub for agricultural commodities.

The event highlighted the surge in agricultural exports from India to the UAE, which reached USD 2.62 billion in 2021-22, marking a 35% increase from the previous year. Aljneibi underscored the importance of sustainable agriculture and food security within the CEPA framework, noting that these priorities are instrumental in driving innovation and cooperation in the agricultural sector.

“With the UAE emerging as India’s second-largest export destination and third-largest trading partner, the increase in agricultural exports and investments has been pivotal,” Aljneibi remarked. He also led a discussion on a newly commissioned report, “The UAE and Opportunities for Bihar’s Agriculture Sector,” which detailed the potential for Bihar’s agricultural products in the UAE market.

Participants engaged in an open discussion on enhancing bilateral trade and easing regulatory hurdles for exporters and importers. The dialogue underscored the combined efforts of the UAE and Indian governments under CEPA to simplify trade regulations, promote innovation, reduce tariffs, and boost investments. These measures have been crucial in elevating total trade between the UAE and India to approximately USD 85 billion in 2022-23.

The roundtable is a testament to the UAE-India CEPA Council’s commitment to fostering economic ties and creating new avenues for growth. By focusing on Bihar’s agriculture sector, the initiative aims to transform the state into a significant player in the global agricultural market.

Krishna Prakashsingh Keshri highlighted the event’s importance, stating, “This collaboration with the UAE-India CEPA Council opens up vast opportunities for our local businesses. It is a significant step towards realizing Bihar’s potential in the global agricultural export market.”

The UAE-India CEPA stands as a cornerstone of the enduring relationship between the two nations, promoting mutual growth and prosperity. The UICC continues to facilitate open dialogue and tangible cooperation, ensuring that businesses from both regions can thrive in an increasingly interconnected global economy.

Leave a Reply

Your email address will not be published. Required fields are marked *