Bhubaneswar
A business roundtable was held in Odisha by the UAE-India CEPA Council and the Indian Chamber of Commerce to discuss opportunities under the UAE-India Comprehensive Economic Partnership Agreement (CEPA). Nearly 30 businesses from Odisha and a high-level UAE delegation participated.
The UAE delegation was led by Abdulnasser Alshaali, Ambassador of the UAE to India. Participants included Ahmed Aljneibi, Director of UICC, Mohammad Haseeb, Strategic Country Manager for India at Ras Al Khaimah Economic Zone (RAKEZ), and Yogpal Singh, Director of Corporate Affairs at DP World.
Alshaali emphasized Odisha’s importance to the UAE due to its minerals and industrial sector and human capital. He expressed confidence that the event would help Odisha businesses benefit from the economic opportunities offered by CEPA.
Aljneibi noted the growth in trade between the UAE and Odisha, reaching USD 2.63 billion in the 2023-2024 fiscal year. He stressed the need to build on this trading relationship and explore new growth avenues.
Odisha is a major producer of steel, alumina, and aluminium and holds significant reserves of minerals. In June 2022, memoranda valued at USD 2.76 billion were signed between Odisha and UAE companies.
The UICC, established in early 2024, has supported the opportunities created by CEPA, facilitating market access and reducing trade barriers. The CEPA has increased investments and business confidence, diversifying the economic partnership between the UAE and India.
