Piyush Goyal to visit UAE, explore investment opportunities

Union Commerce and Industry Minister Piyush Goyal will visit the United Arab Emirates (UAE) from 18 to 19 September.

During his visit, the minister will co-chair the 13th India-UAE High Level Task Force on Investments (HLJTFI) along with Sheikh Hamed bin Zayed Al Nahyan, Managing Director of the Abu Dhabi Investment Authority (ADIA).

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Both the leaders will review progress on the India-UAE Comprehensive Economic Partnership Agreement (CEPA), the Double Taxation Treaty, and UAE-India Central Bank matters.

They will also explore opportunities for investment in key sectors, including maritime and space, that hold strong potential for growth.

The last edition of the HLJTFI was held in Mumbai in October 2024 and saw the ratification of the India-UAE Bilateral Investment Treaty signed during Prime Minister Narendra Modi’s visit to the UAE in February 2024.

The HLJTFI was established in 2013 and has served as a vital platform for promoting trade and investment ties, identifying new opportunities, and resolving investor issues.

During his visit, Goyal will co-chair the UAE-India Business Council (UIBC) roundtable with Dr Thani bin Ahmed Al Zeyoudi, UAE Minister of Foreign Trade, and interact with CEOs of leading Indian and UAE companies.

Bilateral meetings will focus on strengthening trade, investment, and cooperation across priority sectors.

Apart from these, Piyush Goyal is also likely to meet Sheikh Tahnoun bin Zayed Al Nahyan, National Security Advisor of the UAE and Chairman of the International Holding Company (IHC); Ahmed Jasim Al Zaabi, Chairman of the Abu Dhabi Department of Economic Development (ADDED); and Syed Basar Shueb, Managing Director of IHC, along with other key private sector stakeholders.

Boosted by the CEPA signed in 2022, the total bilateral trade has exceeded USD 83 billion in FY 2023-24 and has a target of over USD 100 billion by 2030.