Bilateral Agreement between India and Uae

The Bilateral Agreement between India and UAE: A Comprehensive Guide

India and the United Arab Emirates (UAE) share a strong bilateral relationship that is built on strategic economic and political partnerships. To strengthen this bond, the two countries have signed several bilateral agreements over the years, covering various sectors such as education, healthcare, trade, and technology. One such agreement is the Bilateral Agreement between India and UAE, which aims to promote and protect investments made by nationals of both countries.

The Bilateral Agreement between India and UAE was signed on December 12, 2013, by the then Finance Minister of India, P Chidambaram, and the UAE`s Minister of State for Financial Affairs, Obaid Humaid Al Tayer. The agreement has been instrumental in providing a framework for investment protection by establishing reciprocal obligations and promoting transparency and fair treatment by the host state.

One of the key objectives of the agreement is to promote bilateral trade between the two countries. The agreement includes provisions for the liberalization of trade, elimination of tariffs and non-tariff barriers, and protection of intellectual property rights. It also provides for the establishment of joint ventures and the transfer of technology, which will help in creating new business opportunities and enhancing trade relations.

Another important aspect of the Bilateral Agreement between India and UAE is the promotion of investment flows between the two nations. The agreement provides for the establishment of a Joint Committee, which will oversee the implementation of the agreement and facilitate investments by nationals of both countries. The Joint Committee will also work towards the resolution of any issues that may arise between the two countries, thus ensuring a stable investment environment.

Furthermore, the agreement covers the protection of investments made by nationals of both countries. It includes provisions for the resolution of investment disputes through arbitration and ensures that investors are not subjected to discriminatory treatment. This will help in enhancing investor confidence and promoting foreign investment in both countries.

In conclusion, the Bilateral Agreement between India and UAE is a significant stride towards strengthening the economic and political ties between the two countries. The agreement provides a comprehensive framework for promoting trade and investment flows, protecting investments, and resolving any disputes that may arise. It has been instrumental in enhancing the bilateral relationship between India and UAE and will continue to do so in the future.

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