Hamdan Bin Mohammed Engages With India’s Minister Of Commerce To Strengthen Economic Ties

H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister, and Minister of Defence, recently met with Piyush Goyal, India’s Minister of Commerce and Industry, in Mumbai. This meeting was part of Sheikh Hamdan's official visit to India and aimed at strengthening the strategic economic partnership between the two nations.

The discussions centred on enhancing cooperation in key sectors such as trade, energy, investment, manufacturing, logistics, technology, and healthcare. These areas are crucial pillars of the economic relationship between India and the UAE. Both sides expressed a commitment to fostering supply chain resilience and welcomed the steady growth in bilateral trade.

Sheikh Hamdan highlighted that the partnership between India and the UAE is built on trust and innovation. He stated, "India and the UAE share more than strong economic ties; we share a bold vision for the future." The collaboration aims to create resilient economies that promote prosperity and enhance welfare for both countries' citizens.

The talks also explored opportunities to expand investment flows and commercial cooperation. Discussions included improving industrial collaboration and trade facilitation through enhanced logistics infrastructure and digital trade platforms. These efforts aim to support mutual growth and economic engagement.

Both leaders discussed closer collaboration in digital infrastructure, payment systems, and smart logistics. They also explored opportunities for cooperation in artificial intelligence, focusing on using emerging technologies to drive future-ready economies.

Sheikh Hamdan praised India's economic rise and achievements in digital innovation and inclusive growth. He reaffirmed the UAE’s commitment to deepening bilateral economic ties as a driver of sustainable development and global economic stability.

Impact of CEPA

The Comprehensive Economic Partnership Agreement (CEPA) and Bilateral Investment Treaty (BIT) were significant topics during the meeting. These frameworks have laid a foundation for a more open, secure, investment-friendly relationship between the two countries.

The UAE-India CEPA was signed in 2022 with an ambitious goal: to increase non-oil trade to $100 billion by 2030. Non-oil trade between the UAE and India grew by 20.5% in 2024, reaching over AED240 billion compared to AED199.3 billion in 2023.

Key Attendees

The meeting was attended by several prominent figures from both countries. Among them were H.H. Sheikh Ahmed bin Saeed Al Maktoum; Mohammad bin Abdullah Al Gergawi; Reem bint Ebrahim Al Hashimy; Mohamed bin Hadi Al Hussaini; Omar bin Sultan Al Olama; and Dr. Abdulnasser Jamal Al Shaali.

This gathering underscores the ongoing efforts by both nations to strengthen their strategic partnership across various sectors. The focus remains on unlocking new opportunities for growth while creating a model of bilateral collaboration that benefits both countries economically.

With inputs from WAM