Piyush Goyal likely to meet UAE counterpart on August 30

UAE’s Minister of State for Foreign Trade, Dr Thani bin Ahmed Al Zeyoudi, is likely to visit India on Friday for a two-day visit aimed at strengthening bilateral trade ties, an official said. On Saturday, he is scheduled to hold high-level talks with Commerce and Industry Minister Piyush Goyal in Mumbai to discuss key aspects of economic cooperation between the two countries.

The visit comes at a critical juncture as India seeks to diversify its trade partnerships to mitigate the potential impact of escalating US tariffs.

Sources indicate that the discussions may explore opportunities to deepen trade relations with the UAE, leveraging the Gulf nation’s strategic position as a global trade hub.

The UAE is already one of India’s top trading partners. Bilateral trade reached $85 billion in 2024, driven by the Comprehensive Economic Partnership Agreement (CEPA) signed in 2022. The talks are expected to build on the strong economic ties fostered under CEPA, which has boosted exports of Indian gems, jewellery, pharmaceuticals, and textiles to the UAE.

Both nations are also likely to explore joint initiatives in emerging areas such as green hydrogen and digital trade.

According to the Embassy of India in Abu Dhabi, bilateral trade between the two countries has reached its highest level of $ 100.06 billion in FY 2024-25. The trade basket between the two nations is well diversified, encompassing petroleum products, gems and jewellery, food items, textiles, chemicals, and engineering goods.