Synoptic Revision - Micro and Macro Effects of Trade Deals
Last updated 11 Jun 2022
In this revision video we walk through some micro and macro effects of a trade deal between India and the UAE.
In 2022, the United Arab Emirates and India signed a free trade deal that is expected to double bilateral non-oil trade to $100bn within five years as the UAE deepens its economic partnership with its second-largest trade partner. The UAE expects the deal to add $9bn, or 1.7 per cent, to gross domestic product by 2030. It also expects the pact to deliver an additional 140,000 skilled jobs into its workforce over the same timeframe. The elimination of UAE import tariffs on key commodities, such as aluminium, copper, steel and various petrochemicals is one benefit of the deal. Overall, about 80 per cent of products and services will have tariffs removed.