UAE-India joint investment task force reviews key areas of cooperation

New Delhi: Commerce Minister Piyush Goyal on Tuesday co-chaired the 10th meeting of the UAE-India joint task force on investments in Mumbai, along with Sheikh Hamed bin Zayed Al Nahyan, member of the Executive Council of the Emirate of Abu Dhabi.

Discussions took place on ways of enhancing bilateral investments in key sectors like food security, manufacturing, infrastructure, energy and technology.

In this context, it was agreed that the concerned authorities in both countries will explore establishment of efficient and integrated single window solutions and virtual trade corridors to reduce costs and time involved in trade and investment related procedures.

The two delegations reviewed the status of the negotiations of the India-UAE Bilateral Investment Treaty.

Twelve rounds of negotiations have been conducted till date. Both sides noted that much progress could have been achieved since the commencement of the negotiations and therefore reiterated their commitment to accelerate the process for an early conclusion of a balanced and mutually beneficial agreement, official sources said.

During the meeting, the co-chairs recognised the early trends of positive impact of the historic India-UAE CEPA on bilateral trade between the two countries since it came into force in May 2022.

The co-chairs urged businessmen on both sides to gain optimal benefits from the conducive trade ecosystem created under CEPA.