Trade Agreement Between Uae And India

By October 12, 2021 Uncategorized No Comments

According to the Federal Customs Authority (FCA) of the United Arab Emirates, the United Arab Emirates has also signed agreements with the following countries: Islamic Republic of Pakistan (2006), Republic of Algeria (2007), Republic of Azerbaijan (2011), Republic of India (2012), Republic of Kazakhstan (2012), Republic of Argentina (2013), Republic of Armenia (2013), Republic of Maldives (2014), Republic of South Korea (2015) and Kingdom of the Netherlands (2015). In June 2009, the GCC signed a free trade agreement with ETFA (Iceland, Liechtenstein, Norway and Switzerland), which was implemented in July 2015. The Double Taxation Convention (DBAA) was signed in April 1992 between India and the United Arab Emirates. Saudi Aramco and Abu Dhabi National Oil Company (ADNOC) have signed a framework agreement for the joint development of ratnagiri Refinery and Petrochemicals Limited (RRPCL), an integrated megarefinery and a petrochemical complex with a total temperature of 1.2 million barrels per day. It is a strategic partnership and co-investment in the development of a new mega-refinery and petrochemical complex in Ratnagiri for an amount of $US 44 billion. The agreement sets out the principles of joint strategic cooperation between Saudi Aramco and ADNOC for the joint construction, ownership and operation of the complex, in collaboration with a consortium of Indian national oil companies, currently composed of Indian Oil Corporation Ltd (IOCl), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL). Saudi Aramco and ADNOC will jointly own 50% of the new RRPCL joint venture, with the remaining 50% owned by the Indian consortium. “It is expected that the bilateral currency swap agreement between India and the UAE will reduce dependence on hard currencies like the US dollar,” the statement said, adding that both central banks agreed to the deal. ABU DHABI (Reuters) – India and the United Arab Emirates signed a currency swap agreement on Tuesday to boost investment and allow direct trade without the use of dollars or other international currencies. On August 16, 2015, Prime Minister Narendra Modi began a two-day visit to the United Arab Emirates, the first state visit by an Indian prime minister to the country in 34 years. . . .