UAE to Address India’s Concerns Regarding Surge in Silver and Platinum Imports Under CEPA

UAE to Investigate India’s Concerns Over Surge in Silver and Platinum Imports Under CEPA

The United Arab Emirates (UAE) has agreed to look into the issues raised by India regarding the sharp rise in Gulf countries’ exports of silver, platinum alloy and dry dates to India under the India-UAE Comprehensive Economic Partnership Agreement (CEPA).

India raised the issue of high import of silver products, platinum alloy and dry dates and urged the UAE to “verify compliance with global norms and ensure that norms are not violated,” an official statement said on Tuesday (Oct 15). .

The Commerce Ministry said the UAE has agreed to look into the concerns raised by India.

The concerns were raised during the second meeting of the Joint Committee (JC) under the India-UAE Comprehensive Economic Partnership Agreement (CEPA) in the United Arab Emirates on October 14.

Indian officials have urged officials from West Asian countries to check compliance with the rules of origin and ensure they are not ‘twisted’.

“The Indian side raised the issue of the recent surge in imports of silver products, platinum alloy and dry dates and urged the UAE to verify compliance with the original regulations and ensure that the rules are not violated. The UAE has agreed to look into the concerns raised by its Indian counterparts,” the official statement added.

In addition, the two parties addressed their goal of reaching $100 million in non-oil commerce by 2030.

Currently, the UAE is India’s third largest commercial partner. Bilateral commerce between India and the UAE has grown significantly, from $59.5 billion in 2013-14 to $83.6 billion in 2023-24.

India and the United Arab Emirates signed a Comprehensive Economic Partnership Agreement (CEPA) in February 2022, which went into effect in May 2022.