UAE Hails India-EU FTA as Landmark for Economic Openness, Sustainable Growth

• The UAE has praised the India-EU Free Trade Agreement (FTA) as a significant move towards economic openness and sustainable growth.
• The landmark deal, sealed on January 27, aims to create a market of 2 billion people, with India and the EU unveiling a five-year agenda focusing on trade and defense.
• UAE Minister of State, Saeed Al Hajeri, stated the pact reflects commitment to free trade and economic partnerships supporting shared prosperity.
• The UAE highlighted its own CEPA with India as a model for strategic trade partnerships and expressed hope for a similar agreement with the EU.
• The FTA includes pacts on security, defense, and mobility of Indian talents, benefiting Indian sectors like textiles and marine products, and European sectors like wine and automobiles.

Why It Matters: The UAE lauds the India-EU FTA as a pivotal step for global economic openness and sustainable development.