India Seeks Review of Trade Agreement With UAE Over Rising Metal Imports

Indian and Emirati officials are scheduled to review their trade agreement this week, following concerns raised by Indian industry about a sharp increase in imports of precious metals from the United Arab Emirates, sources familiar with the matter revealed.

The Comprehensive Economic Partnership Agreement between India and the UAE, signed in 2022 after just 88 days of negotiations, is now set for a routine review. This comes as a UAE delegation, led by Abu Dhabi Crown Prince Khaled bin Mohamed Al Nahyan, visits Mumbai and New Delhi.

While the review has sparked attention due to industry complaints about rising precious metal imports, Indian government sources have downplayed its significance, noting that such reviews are standard practice. However, the review will focus on whether the rules of origin within the agreement are being properly adhered to.

Despite the importance of the visit, Crown Prince Khaled, who is also the UAE’s deputy national security adviser, is not expected to participate directly in the trade discussions. The review of the trade agreement highlights the ongoing economic ties between the two nations, with India being one of the UAE’s largest trading partners and home to the largest expatriate community in the Gulf state.