By Aditya Raj Das
India has decided to set up Fast Track Mechanism in UAE to resolve issues faced by Indian businesses and investors in UAE. Co-chairing the 10th Meeting of the India-UAE High Level Joint Task Force on Investments in Mumbai, Commerce and Industry Minister Piyush Goyal said, India-UAE relations also witnessing unprecedented momentum and large number of opportunities for cooperation exist in key sectors like infrastructure and technology.
Both countries also decided to explore establishment of efficient and integrated Single Window Solutions and Virtual Trade Corridors to reduce time and cost in trade.
Sheikh Hamed bin Zayed Al Nahyan, Member of the Executive Council of the Emirate of Abu Dhabi said, several significant milestones have been reached to enhance the relationship between the two countries. A Joint Task Force was established in 2013 to promote trade, investment and economic ties between the UAE and India. This was the first meeting of the Joint Task Force since the signing of the India-UAE Comprehensive Economic Partnership Agreement (CEPA) in February.
The CEPA is a major trade agreement set to transform bilateral economic, trade and investment ties and propel economic growth. Both these historic landmarks provide a clear roadmap for continued strengthening of the Comprehensive Strategic Partnership between the two countries at an accelerated pace.