Draft Standard / Date of Publishing: 12/05/2022
Affected Regions: UAE
The Minister of Economy: Started the Removal and Reduction of 90% of Custom Duties on Goods between the UAE and India
The Minister of Economy confirmed that “the implementation of the terms of the comprehensive economic partnership agreement between the UAE and India, which the two countries signed on February 18, 2022, entered into force on the first of this month, with the arrival of the first imports exempt from customs duties between the two countries, to the Dubai Airport Free Zone Authority on the second of the same month.
The agreement between the UAE and India contributes to stimulating the trade flow between the two markets, by cancelling and reducing customs duties, which amounts to 90% of the tariff items applied to goods and merchandise imported between both countries, and it also covers about 95% of the value of the current goods imported by each country from the other. This contributes to accelerating the growth of intra-non-oil trade.