Dubai: India and UAE on Saturday explores mutually beneficial methods and incentives to facilitate investment from the Arab Emirates sovereignty investment entities in the top priority sectors in New Delhi.
The two countries also recorded the importance of concluding the negotiation process of changing the UAE and the Old Indian bilateral investment agreement as soon as possible.
These problems arose for discussion during the meeting between Sheikh Hamed Bin Zayed al Nahyan, a member of the Emirate Executive Board of Abu Dhabi, and Piyush Goyal, Minister of Trade and Industry.
Both of them lead the ninth meeting of the UAE-India High-level Task Unit on investment here.
“At the meeting, the discussion was also held to explore mutually beneficial methods and incentives to facilitate further investment from the UAE-sovereign investment entity in the main priority sectors in India …
Both parties agreed to continue to focus on the way to provide tax incentives To certain UAE, sovereignment entities, “said the official statement.
Given the importance of air transportation in facilitating bilateral relations and connections of people-to-people, India and UAE agreed that their respective civil aviation authorities must continue to work together with the basic priority, for mutual benefit, to ensure fast normalization of air transportation operations.
The statement also said the progress of the ongoing discussion for the Indian-UAE comprehensive economic partnership agreement was reviewed.
The involvement of the UAE special table in investing India in accelerating the resolution of both legacy problems and current difficulties experienced by UAE companies and banks in India is discussed.
“Both parties agreed to continue coordination and cooperation at the highest official level for the initial resolution of this problem,” he said.
Commenting on the ninth meeting of joint combined units, Al Nahyan said it was an important platform for dialogue between the two countries, raising new opportunities for trade and investment, and eliminating congestion for further cooperation.
“Going forward, India and UAE share ambitious goals to expand trade and investment activities between our countries, and shared task forces will continue to play an important role in achieving these goals,” he said.
Goyal said given the prospect of strong growth from the Indian economy, “We look forward to an increase in investment from the UAE in various Indian sectors”.
Joint Task Force was founded in 2013 as the main forum to promote economic ties between UAE and India.