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With reference to the India-United Arab Emirates Comprehensive Economic Partnership Agreement (CEPA), consider the following statements:
1. India and UAE’s Commerce Minister have formally launched negotiations on the India-United Arab Emirates Comprehensive Economic Partnership Agreement (CEPA).
2. The UAE is currently India’s third-largest trading partner with bilateral trade in 2019/2020 valued at USD 59 billion.
Which of the statements given above is/are correct?
  • a)
    1 only
  • b)
    2 only
  • c)
    Both 1 and 2
  • d)
    Neither 1 nor 2
Correct answer is option 'C'. Can you explain this answer?
Verified Answer
With reference to the India-United Arab Emirates Comprehensive Economi...
India and UAE’s Commerce Minister have formally launched negotiations on the India-United Arab Emirates Comprehensive Economic Partnership Agreement (CEPA).
  • The first round of CEPA negotiations will be held on 23-24 September 2021.
  • CEPA will create new jobs, raise living standards, and provide wider social and economic opportunities in both nations.
  • A new strategic economic agreement is expected to increase bilateral trade in goods to USD 100 billion within five years of the signed agreement and increase trade in services to USD 15 billion.
Economic relations
  • The UAE is currently India’s third-largest trading partner with bilateral trade in 2019/2020 valued at USD 59 billion. The UAE is also India’s second-largest export destination after the US, with exports valued at approximately USD 29 billion in 2019-2020.
  • India was the UAE’s second-largest trading partner in 2019, with bilateral non-oil trade valued at USD 41 billion.
  • The UAE is the eighth-largest investor in India, having invested USD 11 billion between April 2000 and March 2021, while investment by Indian companies in the UAE is estimated to be over USD 85 billion.
  • Hence both statements are correct.
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With reference to the India-United Arab Emirates Comprehensive Economic Partnership Agreement (CEPA), consider the following statements:1. India and UAE’s Commerce Minister have formally launched negotiations on the India-United Arab Emirates Comprehensive Economic Partnership Agreement (CEPA).2. The UAE is currently India’s third-largest trading partner with bilateral trade in 2019/2020 valued at USD 59 billion.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?
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With reference to the India-United Arab Emirates Comprehensive Economic Partnership Agreement (CEPA), consider the following statements:1. India and UAE’s Commerce Minister have formally launched negotiations on the India-United Arab Emirates Comprehensive Economic Partnership Agreement (CEPA).2. The UAE is currently India’s third-largest trading partner with bilateral trade in 2019/2020 valued at USD 59 billion.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? for Current Affairs 2024 is part of Current Affairs preparation. The Question and answers have been prepared according to the Current Affairs exam syllabus. Information about With reference to the India-United Arab Emirates Comprehensive Economic Partnership Agreement (CEPA), consider the following statements:1. India and UAE’s Commerce Minister have formally launched negotiations on the India-United Arab Emirates Comprehensive Economic Partnership Agreement (CEPA).2. The UAE is currently India’s third-largest trading partner with bilateral trade in 2019/2020 valued at USD 59 billion.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for Current Affairs 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for With reference to the India-United Arab Emirates Comprehensive Economic Partnership Agreement (CEPA), consider the following statements:1. India and UAE’s Commerce Minister have formally launched negotiations on the India-United Arab Emirates Comprehensive Economic Partnership Agreement (CEPA).2. The UAE is currently India’s third-largest trading partner with bilateral trade in 2019/2020 valued at USD 59 billion.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?.
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