India, UAE to review trade pact progress during Piyush Goyal's visit

New Delhi: India and the UAE will review progress of their 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, the government said Wednesday.Goyal is visiting the UAE from September 18-19 to co-chair the 13th India-UAE High Level Task Force on Investments along with Sheikh Hamed bin Zayed Al Nahyan, managing director of the Abu Dhabi Investment Authority. "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 in a statement.The CEPA, which came into force in May 2022, has nearly doubled bilateral merchandise trade to $83.7 billion in FY24 from $43.3 billion in FY21. Both sides aim to increase the bilateral trade in non-oil goods to $100 billion by 2030. Both sides will also explore opportunities for investment in key sectors, including maritime and space that hold strong potential for growth.During the visit, Goyal will also co-chair the UAE-India Business Council roundtable 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.