The UAE and India have agreed to expedite an accord to boost two-way trade and investment, and allocate $2 billion for investments in infrastructure projects in the South Asian nation.
At a high-level Task Force meeting, co-chaired by Chairman of the Abu Dhabi Crown Prince’s Court Shaikh Hamed bin Zayed Al Nahyan and visiting Indian Commerce and Industry Minister Anand Sharma, both countries also agreed to establish strategic oil reserves in India and to speed up the resolution of issues associated with existing investments and opportunities for new cross-border investments across a range of sectors.
“Today we have laid the groundwork for what I am confident will be a fruitful series of discussions around issues of significant interest and importance to both the UAE and India,” said Shaikh Hamed.
Following the meeting, the Indian minister, who is heading a Federation of Indian Chambers of Commerce and Industries delegation, said both sides talked about the need to have a Bilateral Investment Promotion and Protection Agreement, or Bipa. “We have in-principle agreed for that and it will be expeditiously concluded,” he said.
Read more: http://www.khaleejtimes.com/biz/inside.asp?xfile=/data/uaebusiness/2013/February/uaebusiness_February332.xml§ion=uaebusiness
At a high-level Task Force meeting, co-chaired by Chairman of the Abu Dhabi Crown Prince’s Court Shaikh Hamed bin Zayed Al Nahyan and visiting Indian Commerce and Industry Minister Anand Sharma, both countries also agreed to establish strategic oil reserves in India and to speed up the resolution of issues associated with existing investments and opportunities for new cross-border investments across a range of sectors.
“Today we have laid the groundwork for what I am confident will be a fruitful series of discussions around issues of significant interest and importance to both the UAE and India,” said Shaikh Hamed.
Following the meeting, the Indian minister, who is heading a Federation of Indian Chambers of Commerce and Industries delegation, said both sides talked about the need to have a Bilateral Investment Promotion and Protection Agreement, or Bipa. “We have in-principle agreed for that and it will be expeditiously concluded,” he said.
Read more: http://www.khaleejtimes.com/biz/inside.asp?xfile=/data/uaebusiness/2013/February/uaebusiness_February332.xml§ion=uaebusiness
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