The India Pavilion at Expo 2020 Dubai celebrated the signing of the Free Trade Agreement (FTA) between India and UAE by displaying the Prime Minister’s message on its façade.

India and the UAE signed the FTA on February 18; this is the first bilateral trade pact between the two nations.

The FTA is set to reduce tariffs for 80% of goods and give zero duty access to 90% of India’s exports to the UAE. The pact will have a beneficial effect on India’s gems and jewellery sector as the UAE accounts for 80% of India’s plain gold jewellery exports and 20% of studded jewellery exports.

Incidentally, the two countries have also announced the setting up of the India-UAE Cultural Council, which will see cross-cultural exchanges between the two countries, senior officials said on Sunday at the ‘Be Inspired: Festival of Ideas’ event at India Pavilion, Expo 2020 Dubai.