Cargo Breaking News
The Comprehensive Economic Partnership Agreement (CEPA), signed by the UAE and India to simplify customs procedures, reduce logistics costs, and open new opportunities for professional services, will be operational within one month, said officials at the third edition of LOGIX India, in Dubai.
The three-day-long logistics conference, organised by the Federation of Indian Export Organisations (FIEO), was supported by the UAE’s Federation of Freight Forwarders Association in India (FFFAI) and NAFL.
Nadia Abdul Aziz, President of the UAE’s NAFL, said CEPA will boost the UAE’s logistics sector, which contributes more than 14% of Dubai’s GDP.
“With CEPA in place, Indian products can penetrate the UAE market through which they can enter the GCC, Commonwealth of Independent States (CIS), Africa and beyond,” said Nadia.
A Memorandum of Understanding (MoU) was also signed between NAFL and FFFAI.
The MoU includes the mutual understanding and cooperation of the two federations of freight forwarders, the exchange of knowledge and technology, and the exchange of students for internships.
“The MoU provides for trade support, empowerment of women and youth, skill development and training, and the exchange of students,” said Nadia.
Earlier, His Excellency Ahmed Mahboob Musabih, Director General of Dubai Customs and CEO of Ports, Customs and Free Zone Corporation, stated that the CEPA will pave the way for a new era of joint economic growth and prosperity in the two countries, improve mutual access to markets, enhance economic and investment opportunities, and pave the way for broader prospects.
