New Delhi (TIP)-India and the UAE signed a free trade agreement (FTA) coinciding with a virtual summit between Prime Minister Narendra Modi and Crown Prince of Abu Dhabi Sheikh Mohammed bin Zayed Al Nahyan on Friday, Feb 18. The first FTA — a Comprehensive Economic Partnership Agreement — in 10 years and the first by the Modi government was signed by Commerce Minister Piyush Goel and UAE Minister of Economy Abdulla bin Touq Al Marri at a ceremony here. Earlier, the PM and Sheikh Mohammed issued a Joint Vision Statement in which they agreed to enhance maritime cooperation, jointly fight against extremism and terrorism, including cross-border terrorism, increase bilateral trade from $60 billion to $100 billion in five years and promote energy cooperation. Two MoUs signed between Indian and UAE entities were also announced. One MoU between APEDA and DP World and Al Dahra was for a “food security corridor initiative’ while another was between Gift City and Abu Dhabi Global Market on cooperation in financial projects and services. Source: TNS
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