The India-UAE Comprehensive Economic Partnership Agreement (CEPA), the biggest bilateral trade pact between the two major economies, was activated on Sunday.
The agreement was signed on February 18 between the two sides. Coinciding with the important occasion, Secretary, Department of Commerce, B.V.R. Subrahmanyam flagged off the first consignment of goods consisting of jewellery items from India to the UAE under the India-UAE CEPA at an event held at the New Customs House here.
Mr Subrahmanyam handed over “Certificates of Origin” to three exporters from the Gems and Jewellery sector. Under the new customs system, the consignment will attract “zero customs duty”. “The aforementioned consignment which will now attract zero customs duty under this Agreement is expected to reach Dubai today, 01, May, 2022,” declared a statement from the Ministry of Commerce and Industry.
