Based on the High Level Task force Meeting that happened on 15 Oct 2018 in Mumbai, co-chaired by H.H. Sheikh Hamed bin Zayed Al Nahyan, Chairman of the Abu Dhabi Crown Prince’s Court, and H.E. Suresh Prabhu, Minister of Commerce and Industry and Civil Aviation, Government of India and Senior Officials from both countries. It was mutually agreed to create a Fast Track Committee between India and UAE comprising of secretary of DIPP and H.E. Dr Ahmed Albanna with the sole purpose of fast racking the issues that were discussed in the High level task force meeting 2018.
Under the aegis of the Task force meeting , the first fast track committee meeting between H.E. Mr Ramesh Abhishek, Secretary, Department of Industrial Policy & Promotion (DIPP) and H.E. Dr Ahmed Albanna, UAE Ambassador to India was held today i.e. 23 October 2018 at Secretary of DIPP office discussing in detail the three subjects that needs utmost attention i.e. Air service agreement, India–UAE Bilateral Investment Promotion and Protection Agreement, India–UAE Double Tax Avoidance Agreement (DTAA).
H.E. Dr Ahmed Albanna discussed wide-ranging issues from UAE companies and the resolution for the same. Together, our combined efforts will help to further strengthen bilateral trade relations and pave the way for continued strategic dialogue.
He also discussed expediting the resolution of current pending issues associated with existing UAE investments in India, including those of Etisalat, Emaar and DP World. He further discussed wide-ranging matters of mutual interest including the identification of priority sectors of engagement for possible investments in the two countries.
The meeting culminated on a positive note with both the sides agreeing to work together and represent respective countries to explore investment opportunities in the sector and take advantage of the huge market access and relaxed policy framework. They also noted the positive outcomes achieved by the Joint Task Force to date and agreed upon the need to further explore ways to facilitate investment in key Indian and UAE sectors with the potential for economic growth. |
