Decoding the benefits of India – UAE Comprehensive Economic Partnership Agreement (CEPA)

07-06-2022 | Completed Event

World Trade Center in association with Indian Chamber of Commerce and Industry (ICCI) organized a webinar on India – UAE Comprehensive Economic Partnership Agreement (CEPA). BDO India was the knowledge partner for the session. Mr. Krishna Barad, Partner and Mr. Abhishek Singhania, Director - Customs & International Trade, Indirect Tax - BDO India spoke at the event.

Mr. Singhania gave the participants a background of this scheme and listed similar trade agreements that had been formed earlier. He spoke about the Operational Certification Procedure (OCP) and how it lays down the form of the Certificate of Origin, issuing procedure and verification. He also raised concerns over the recent misuse of the FTA benefits by certain traders and added that it is coming under strict scrutiny of the Government.

Mr. Krishna Barad spoke about how CEPA will help the two nations as UAE is India’s third largest trading partner and second largest export destination. He also stated that in five years, bilateral trade is expected to grow by $ 100 Billion in goods and $15 billion in services. The CEPA will facilitate the free flow of goods, services, capital, technology, and people, as well as mutually beneficial collaboration. He explained the benefits the agreement will bring to energy sector, skill development, climate action, renewable energies, MSMEs, pharma and future technologies. He also listed the areas where exemptions are applicable.

Mr. Vivek George, Sr. Manager, World Trade Center and Mr. Vikas Agarwal, President, ICCI also spoke.