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External Affairs Minister Sushma Swaraj visited United Arab Emirates

Nov 26, 2014 16:12 IST

External Affairs Minister Sushma Swaraj visited United Arab Emirates from 10 November to 12 November 2014 at the invitation of UAE Foreign Minister Sheikh Abdullah Bin Zayed Al Nahyan.

During her visit, both the countries leaders discussed bilateral, regional and other issues of mutual interest. She interacted with the top UAE leadership and also interacted with the Indian community in UAE.

She expressed hope that Bilateral Trade and Investment Protection Agreement (BTIPA) between India and UAE which have entered into force with effect from 23 September 2014 will help facilitate the safety to investments in India.

She also expressed hope that Double Taxation Avoidance Agreement (DTAA) with UAE has certain preferential features conductive features for increased investment in India.

Both countries tried to explore ways to enhance engagement in key areas of trade, investment and energy security.

Background
UAE is eleventh largest investor in India in terms of foreign direct investments. It also contributes significantly to energy security of India and is the sixth largest supplier of crude oil to India. In 2013-14, the bilateral trade between the two countries amounted to 59 billion US dollars.

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