Union Commerce and Industry Minister Piyush Goyal is set to embark on a two-day visit to the United Arab Emirates (UAE) on Thursday, where he will co-chair the 13th India-UAE High Level Task Force on Investments with Sheikh Hamed bin Zayed Al Nahyan, Managing Director of the Abu Dhabi Investment Authority (ADIA).

The meeting will review progress on the India-UAE Comprehensive Economic Partnership Agreement (CEPA), the Double Taxation Treaty, and bilateral central bank cooperation. It will also explore fresh investment opportunities in sectors such as maritime and space technology.

During his visit, Goyal will co-chair the UAE-India Business Council (UIBC) roundtable alongside the UAE’s Minister of Foreign Trade, Dr. Thani bin Ahmed Al Zeyoudi. He will also engage with CEOs from leading Indian and Emirati companies to strengthen private sector collaboration.

The Union Minister’s agenda includes high-level meetings with UAE National Security Advisor and International Holding Company (IHC) Chairman Sheikh Tahnoun bin Zayed Al Nahyan, Abu Dhabi Department of Economic Development Chairman Ahmed Jasim Al Zaabi, and IHC Managing Director Syed Basar Shueb.

The 12th edition of the task force, held in Mumbai in October 2024, ratified the Bilateral Investment Treaty signed during Prime Minister Narendra Modi’s visit to the UAE earlier that year. Established in 2013, the forum has been pivotal in resolving investor concerns and unlocking new trade and investment opportunities.

The UAE is among India’s top strategic partners. Since the CEPA came into effect in May 2022, bilateral merchandise trade has nearly doubled from $43.3 billion in FY 2020–21 to $83.7 billion in FY 2023–24, with a growing focus on non-oil sectors.