India and the United Arab Emirates (UAE) have agreed to review the Comprehensive Economic Partnership Agreement (CEPA). The review is expected to take place in May, one year after the trade deal was signed. With this integration of the portals of both the countries can boost the trade of both the countries. This information was given by a senior official of the Ministry of Commerce.
“We will see how the portals will be integrated. They have single window port and we have ULIP (Unified Logistics Interface Portal). We are talking to DPIIT about this. With this, we will be able to share the data of where the cargo vessel is moving on a real-time basis. This will give priority to berths.
On arrival of the cargo vessel at the port, it can be given priority. The official said that by getting such facilities in trade, we can increase exports. This will reduce the cost of logistics. The Ministry of Commerce expects exports to the UAE to reach an all-time high.
Exports are expected to be around $32 billion in FY23 as against $28 billion in FY22.
