Facilitation of UAE sovereign investment in Indian sectors explored

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India and the United Arab Emirates (UAE) last week explored mutually beneficial methods and incentives to facilitate investments by UAE sovereign investment entities in key priority sectors in New Delhi at a meeting between Sheikh Hamed bin Zayed Al Nahyan, member of the executive council of the Emirate of Abu Dhabi and Minister of Commerce and Industry Piyush Goyal.

Both co-chaired the ninth meeting of the UAE-India High Level Joint Working Group on Investments.

The two sides also noted the importance of concluding the negotiation process to amend the long-standing bilateral investment treaty as soon as possible.

India and the UAE last week explored mutually beneficial methods and incentives to facilitate investments by UAE sovereign investment entities in key priority sectors during a meeting in New Delhi between the Sheikh Hamed bin Zayed Al Nahyan, member of the executive council of the Emirate of Abu Dhabi, and trade and industry minister Piyush Goyal.

“At the meeting, discussions also took place on exploring mutually beneficial methods and incentives to facilitate further investments by UAE sovereign investment entities in key priority sectors in India… both sides have agreed to continue to focus on ways to offer tax incentives to certain UAE sovereign investment entities, ”an official statement read.

Given the importance of air transport in facilitating bilateral relations and people-to-people connections, the two countries agreed that their respective civil aviation authorities should continue to work together as a matter of priority, in their mutual interest, to ensure standardization. fast air transport. operations.

The statement also said that the progress of the ongoing discussions for the Comprehensive Economic Partnership Agreement between India and the United Arab Emirates has been reviewed.

The Joint Working Group was established in 2013 as a key forum for promoting economic ties between the UAE and India.

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