16 Jul 2022
Ministry of Economy invites exporters to obtain preferential Certificates of Origin to benefit from customs duty exemptions on exports to India
The Ministry of Economy has invited UAE exporters to apply for preferential Certificates of Origin while exporting goods to India, in order to enable them to benefit from customs duty exemptions and reductions under the framework of the Comprehensive Economic Partnership Agreement (CEPA) that was established between the countries. The Ministry explained that securing a preferential Certificate of Origin for exports and imports increases the chances for exporters and importers to benefit from preferential customs duties, as 90% of the goods exchanged between the UAE and India are subject to zero customs duties, while the rest are eligible for reduced customs duties.
By enabling preferential/reduced customs duties on exports and imports, the UAE-India CEPA offers competitive export benefits that facilitate market access and encourage private sector companies to expand their businesses and trade in both countries’ markets; and expand their customer base. This in turn will help enhance the vitality and growth of the private sector in both countries and increase its contribution to sustainable GDP growth. The agreement also boosts prospects for the attraction and facilitation of mutual FDI flows in various economic and trade activities while also supporting closer cooperation between the two business communities, especially in vital sectors such as aviation, environment, hospitality, logistics, investment, building and construction, financial services, and digital trade.
The details of customs duties and tariff rates for goods and products exchanged with India are available on the dedicated UAE-India CEPA page on the Ministry’s website, which can be accessed via the link https://www.moec.gov.ae/cepa_india
Interested parties may apply for preferential Certificates of Origin for exports from the UAE to India through the specialized e-service offered through the Ministry’s website via the link https://services.economy.ae/m/Pages/CategoryServices.aspx?CategoryID=2
The UAE-India CEPA covers over 400 commodities, 11 service sectors, and more than 100 sub-sectors including business services; professional services; accounting; real estate; advertising and communication services; building, construction, and related services; educational services; environmental services; financial and insurance services; social and health services; travel and tourism services, which include travel agencies and hotels; entertainment, cultural, and sports services; transportation, maritime, and air transport services; and airport and repair services.
India is the UAE’s largest trade partner when it comes to non-oil exports as it accounts for 14% of the UAE’s global exports. Meanwhile, the UAE is India’s third largest trade partner, accounting for 40% of India’s total trade with Arab countries. By the end of 2021, the bilateral oil trade between the two countries totaled USD 45 billion, and it is expected that the CEPA will help boost this to reach USD 100 billion within the next five years.