Dubai: India tops in the trade list. Reports show an increase of 8% than last year. The report also said that India-UAE non-oil trade has increased by 20% since the signing of the Comprehensive Economic Partnership Agreement.
With this, the re-export of 30,000 crore Dirham and imports of 58,000 Dirham, an increase of 19%. The report also shows that in the first half of this year, the UAE’s foreign trade transaction has crossed one lakh. UAE informed that by the end of this year they will sign the agreement.
The agreement with Kenya will also help India to expand its presence in the African market. The countries that have signed CEPA will be able to increase their exports to each other and re-export to other countries. Kenya is the first African country that signed this agreement with the UAE. UAE signed CEPA with India in February and with Israel in March. UAE becoming a common partner of India and Kenya will benefit all 3 countries.