Opening up procurement

UAE trade agreement took a welcome new direction

As the Union Ministry of Commerce negotiates a slew of intermediate or “early harvest” trade deals — one with Australia is reportedly ready to be announced shortly — greater attention should be paid to the ways in which the Comprehensive Economic Partnership Agreement (CEPA), which was signed between India and the United Arab Emirates last month, broke new ground for Indian trade policy, with major implications for Indian companies. The deal, for example, covers regulatory harmonisation as well as tariff-based trade issues — a departure from India’s past positions. Although such “behind the border” harmonisation has become commonplace in trade