India, UAE discuss Gold TRQ, market access under CEPA
Joint committee meeting reviews progress on trade and services; both sides aim to increase non-oil trade to $100 billion by 2030
India and the UAE discussed issues related to market access, data sharing, allocation of gold import quota, and anti-dumping matters, services to boost economic ties, the commerce ministry said, on Thursday (November 27).
These issues were discussed during a meeting of the Joint Committee under the India-UAE CEPA (Comprehensive Economic Partnership Agreement). CEPA is a type of Free Trade Agreement (FTA).
Gold TRQ
"The two sides conducted a comprehensive review of progress under CEPA; detailed discussions were held on market access issues, data sharing, allocation of Gold TRQ (tariff rate quota), anti-dumping matters, services, Rules of Origin, and BIS licensing," it said.
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The Indian side also briefed the UAE on its recent decision to allocate Gold TRQ through a transparent competitive bidding process.
US$100 billion trade target
The countries also deliberated on enhancing regulatory cooperation in pharmaceuticals, resolving issues related to Certificates of Origin, and early signing of the MoU on Food Safety and Technical Requirements between the Agricultural and Processed Food Products Export Development Authority (APEDA) of India and the Ministry of Climate Change and Environment of the UAE.
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The bilateral trade has crossed US$ 100 billion in 2024-25, which is an increase of 19.6 per cent over 2023-24. The two have fixed a target to increase non-oil and non-precious metal trade to USD 100 billion by 2030.