The Comprehensive Economic Partnership Agreement (CEPA) signed between the UAE and India last week will create more job opportunities for Indians in diverse sectors in the UAE.
Officials of the two countries and private sector executives noted that the landmark agreement would also attract more Indian job seekers to the UAE searching for greener pastures.
On February 18, the two countries CEPA to bolster strategic partnership and take bilateral economic and commercial engagement to the next level.
Some of the sectors that will benefit most from the CEPA agreement and result in more job creation for NRIs in the UAE include the service sector, healthcare, travel and tourism, engineering, accountancy and IT among others.
The agreement was signed by India’s Commerce and Industry Minister Piyush Goyal and Abdulla bin Touq Al-Marri, UAE’s Minister of Economy, and Thani bin Ahmed Al Zeyoudi, UAE’s Minister of State for Foreign Trade.
“This is going to immensely contribute to job seekers coming to the UAE. Millions of Indians reside in the UAE and have set up their businesses. We will see the number of Indians residing in the UAE increase further in the near future,” Omar Ghobash, Assistant Minister for Culture and Public Diplomacy at the UAE Ministry of Foreign Affairs and International Cooperation, told Khaleej Times in an interview.
The Indian businesses operating in the Emirates also contribute massively to creating jobs.
Some of the largest groups that are owned and operated by the Indian nationals in the country include LuLu Group, Aster Healthcare, Thumbay Group, Landmark Group and many more, with each group providing jobs to thousands of expatriates in the country.
Similarly, UAE and India are major trading partners, with bilateral trade reaching $60 billion. It’s expected to reach $100 billion in the next few years.
Indian nationals already account for the largest population of the UAE, making up nearly 35 per cent of the UAE's 9.5 million population.
In addition, Indian visitors account for a large chunk of the UAE’s tourism sector.
According to Abu Dhabi International Airport’s figures released last week, India emerged as the top destination for Abu Dhabi airport, followed by Pakistan, Egypt, the US and Saudi Arabia.
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