New Delhi, Sep 18: Union Commerce and Industry Minister Piyush Goyal will embark on a two-day visit to the United Arab Emirates (UAE) on Thursday to co-chair the 13th India-UAE High Level Task Force on Investments along with Abu Dhabi Investment Authority (ADIA) Managing Director, Sheikh Hamed bin Zayed Al Nahyan.

The meeting will review progress on the India-UAE Comprehensive Economic Partnership Agreement (CEPA), the Double Taxation Treaty, and UAE-India Central Bank matters.

Both sides will also explore opportunities for investment in key sectors, including maritime and space, that hold strong potential for growth.

During the visit, Goyal will co-chair the UAE-India Business Council (UIBC) roundtable with the UAE's Minister of Foreign Trade, Thani bin Ahmed Al Zeyoudi, and interact with CEOs of leading Indian and UAE companies. He will also hold bilateral meetings focused on strengthening trade, investment, and cooperation across priority sectors.

The Union Minister is expected to meet the UAE's National Security Advisor and International Holding Company (IHC) Chairman, Sheikh Tahnoun bin Zayed Al Nahyan, Abu Dhabi Department of Economic Development Chairman, Ahmed Jasim Al Zaabi, and IHC Managing Director Syed Basar Shueb, along with other key private sector stakeholders.

The 12th India-UAE High Level Task Force on Investments, held in Mumbai in October 2024, saw the ratification of the India-UAE Bilateral Investment Treaty signed during Prime Minister Narendra Modi's visit to the UAE in February 2024.

The task force was established in 2013 and has since served as a vital platform for promoting trade and investment ties, identifying new opportunities, and resolving investor issues.

The UAE remains one of India's most important strategic partners. Their Comprehensive Strategic Partnership is underpinned by deep political engagement, robust economic integration, and collaboration across energy, defence, technology, and food security.

The CEPA, which came into force in May 2022, has nearly doubled bilateral merchandise trade from $43.3 billion in FY 2020-21 to $83.7 billion in FY 2023-24, while catalysing a structural shift towards non-oil sectors.

(IANS)

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