The India-UAE Comprehensive Economic Partnership Agreement (CEPA) that came into effect on May 1, has kept 1157 products including dairy, fruits, vegetables & nuts in the exclusion list, as per a FAQs prepared by the commerce ministry.
The UAE is currently India’s third- largest trading partner with bilateral trade in 2019-20 valued at $ 59 billion. UAE is also India’s second largest export destination with exports valued at approximately $29 billion for the year 2019-20.
Other products kept in the exclusion list include jewellery, except for 2.5 tons Quota for gold jewellery, Tea, Coffee, spices, Petroleum waxes and coke, Natural rubber, toys, tyres and other most Automobiles and automotive components, medical devices and TVs & picture tubes, the ministry said. India is working to boost domestic capabilities in several of these sectors.
Under the deal, Indian contractual service suppliers can stay in UAE for 90 days (renewable for further equal period subject to approval), 90 days in any 12-month period for Business visitors, 3 years (subject to renewal for additional years) for Intra corporate transferees, the ministry said.
The UAE has undertaken immediate tariff liberalisation on a number of products of India’s export interest. 90% of India’s exports in value terms would become duty free immediately upon entry into force of the CEPA.
“Overall, the UAE is eliminating duty on over 97% of its tariff lines which account for 99% of Indian exports to the UAE in value terms. These are potential areas of benefit for India,” the FAQ stated.
