Union Minister of Commerce and Industry, Piyush Goyal will visit the United Arab Emirates (UAE) on 18-19 September to co-chair the 13th meeting of the India-UAE High Level Joint Task Force on Investments (HLJTFI). According to the Press Information Bureau (PIB), the talks will focus on reviewing the Comprehensive Economic Partnership Agreement (CEPA) and identifying fresh opportunities in key sectors, alongside meetings with senior Emirati leaders and global CEOs.
Review of CEPA and new investments
Goyal will co-chair the HLJTFI with Sheikh Hamed bin Zayed Al Nahyan, Managing Director of the Abu Dhabi Investment Authority. The agenda includes a review of CEPA, the Double Taxation Treaty and matters between the two central banks. Both sides are also expected to explore investment prospects in sectors such as maritime, space and advanced technologies.
CEO roundtable and bilateral meetings
The minister will jointly chair a UAE-India Business Council roundtable with Dr Thani bin Ahmed Al Zeyoudi, UAE’s Minister of Foreign Trade and hold discussions with chief executives of leading firms from both countries. He is scheduled to meet Sheikh Tahnoun bin Zayed Al Nahyan, UAE’s National Security Advisor and Chairman of International Holding Company, Ahmed Jasim Al Zaabi, Chairman of the Abu Dhabi Department of Economic Development and Syed Basar Shueb, Managing Director of IHC among other business leaders.
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Strengthening a decade-old platform
The HLJTFI, set up in 2013, has become a key mechanism to advance trade and investment cooperation between the two nations. The previous session, held in Mumbai in October 2024, marked the ratification of the Bilateral Investment Treaty signed during Prime Minister Narendra Modi’s visit to the UAE earlier that year. Officials said the forum not only helps identify new investment opportunities but also addresses investor concerns, making it central to India-UAE economic relations.
Bilateral trade rises under CEPA
The UAE remains one of India’s strongest strategic allies, with ties covering defence, energy, technology and food security. Since the trade pact took effect in May 2022, merchandise trade between the two nations has nearly doubled from $43.3 billion in 2020-21 to $83.7 billion in 2023-24, according to official data. The deal has also increased non-oil trade.
