DP World’s Jebel Ali Free Zone (Jafza) is working towards achieving the $100 billion goal for non-oil trade between India and the UAE over the next five years, following the launch of the Comprehensive Economic Partnership Agreement (CEPA) last year.
Jafza aims to provide a seamless and efficient logistics solution to reduce the time and cost of shipping goods between India and the UAE as part of its India-UAE Bridge initiative. The Free Zone’s Bharat Bazaar and F&B Terminal at Jebel Ali Port offer a comprehensive logistics solution that can help Indian companies thrive.
According to IHS Markit, the bilateral trade between India and the UAE increased from $68 billion in 2021 to $84 billion in 2022, registering a year-on-year growth of 23 per cent. Jafza’s efforts will further strengthen economic ties between India and the UAE and promote greater trade and investment between the two nations.
DP World UAE and Jafza’s CEO & Managing Director, Abdulla Bin Damithan, has expressed his delight in collaborating with the Confederation of Indian Industry (CII) to discuss the latest developments, challenges and opportunities in trade between India and the UAE. He highlighted the benefits of the Comprehensive Economic Partnership Agreement (CEPA), which has already eliminated tariffs on over 10,000 products and services over the next decade, having a tangible impact on trade between the countries and the wider Gulf region. Jafza has played a crucial role in boosting trade between India and the UAE, and Bin Damithan looks forward to further contributing to the growth of trade between the two countries.
Speaking to business leaders from across India, Bin Damithan also highlighted Jafza’s unique value proposition and how it can play a catalytic role for Indian companies to expand operations into foreign markets and strengthen their global value chains. Indian companies are the second-largest partners in terms of trade volume and fourth in terms of trade value in Jafza, and the free zone supports the ‘Make in India’ Initiative and ‘Production Linked Incentive’ schemes to boost manufacturing, investments, and exports in India through its Jebel Ali hub, offering unmatched logistics and trade solutions and greater access to new markets.