Abu Dhabi [UAE], May 14 (ANI): India’s Ambassador to the UAE Deepak Mittal said the Comprehensive Economic Partnership Agreement (CEPA) between India and the United Arab Emirates (UAE) has significantly boosted bilateral trade and investment ties, with trade crossing the USD 100 billion mark for the second consecutive year.Speaking to ANI ahead of Prime Minister Narendra Modi’s visit to the UAE, Mittal said CEPA, signed in 2022, had become a strong framework for expanding economic engagement between the two countries.”You know CEPA- Comprehensive Economic Partnership Agreement. We entered in 2022, and if I recall, it was the first kind of a free trade or comprehensive economic partnership agreement which India entered with a country outside,” Mittal said.He added, “And it was done in a very record time. And it was 2022; we are four years since we signed CEPA, and it has had a very positive impact on our trade.”The envoy noted that bilateral trade had already crossed USD 100 billion twice, making the UAE India’s third-largest trading partner, while India is now the UAE’s second-largest trading partner. “The trade has crossed USD 100 billion already, making the UAE the third largest trading partner for India. And for the UAE, India is the second largest trading partner today,” he said.”This 100 billion dollars has been recorded twice, in 24-25, then again 25-26. So it’s a habit we have developed of not just doing it once but now making it a habit,” Mittal remarked.He said that during the January meeting between Prime Minister Modi and UAE President Mohammed bin Zayed Al Nahyan, the two sides set a target of achieving USD 200 billion in bilateral trade by 2032. “The leadership put forward for us a new target of having a 200 billion bilateral trade dollars by 2032,” he said.Mittal also highlighted the growing contribution of non-oil trade, saying it now accounts for nearly two-thirds of total bilateral trade.”If I’m talking about USD 100 billion, we have seen non-oil trade has been almost 66-67 per cent of our trade,” he said, adding that Indian exports to the UAE had also seen “great growth” after CEPA.Referring to regional tensions around the Strait of Hormuz, Mittal said both countries were working to build resilient supply chains and strengthen connectivity.”We know the situation which has emerged because of the situation around the Hormuz, but again I think the effort being made on both sides is to develop that resilience,” he said.The ambassador pointed to growing maritime and logistics cooperation between India’s western coast and UAE ports such as Khor Fakkan and Fujairah. “We have worked to enhance connectivity from India’s western coast, our ports there, and to look at enhancing connectivity with the ports of Khor Fakkan, ports of Fujairah,” he said.Mittal also underlined cooperation in fintech, trade facilitation and multimodal connectivity under the India-Middle East-Europe Economic Corridor (IMEC). “We are together as a part of the IMEC corridor, so that’s again a multimodal connectivity which we are developing and working on, and the UAE again becomes an important partner in this connectivity,” he said.Speaking on the significance of Modi’s upcoming visit, Mittal described the India-UAE partnership as one that had transformed over the past decade under the leadership of Modi and Sheikh Mohamed.”The personal chemistry which he has with the President, the leadership here, Sheikh Mohamed, I think that’s a very strong driving factor in our relationship,” he said.Mittal noted that Modi’s upcoming visit would be his seventh to the UAE in nine years, reflecting the close and frequent engagement between the two leaderships.”The two leaders have met in nine years; they have already met or visited each other twelve times. This will be the 13th time they are visiting each other,” he said.He added that the visit comes at a critical time amid developments in West Asia and would provide an opportunity for both sides to discuss regional issues and deepen their comprehensive strategic partnership.”So, I’m sure this visit is an opportunity which helps both sides to have in-depth discussions on the situation, the prevailing circumstances, and also at the same time to look at how we work together and to strengthen and deepen the comprehensive strategic partnership,” Mittal said.Prime Minister Narendra Modi will be undertaking a five-nation tour from 15 to 20 May, which includes the United Arab Emirates and four European nations: the Netherlands, Sweden, Norway, and Italy. The Prime Minister will begin his visit in the UAE on 15 May, where he will meet the President of the UAE, Sheikh Mohammed bin Zayed Al Nahyan. They will exchange views on bilateral relations–in particular, energy cooperation–as well as regional and international issues of mutual interest. (ANI)(This content is sourced from a syndicated feed and is published as received. The Tribune assumes no responsibility or liability for its accuracy, completeness, or content.)