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- BITs between two countries aim to promote and protect foreign private investments in each other’s territories.
- UAE has become the country with which India has signed both Comprehensive Economic Partnership Agreement (CEPA) and BIT.
- Earlier, India has signed CEPA with Japan and South Korea also and BIT with Belarus.
- CEPA covers negotiation on trade in services and investment, and other areas of economic partnership like Intellectual property rights etc.
- Other Key Agreements
- Inter-governmental Framework Agreement concerning Cooperation for Empowerment and Operation of India-Middle East-Europe (IMEC) Economic Corridor.
- IMEC calls for a sea-land connectivity project linking India with West Asia and Europe.
- MoU on Development of National Maritime Heritage Complex (NMHC) to build Maritime Heritage Complex at Lothal, Gujarat.
- Agreement on interlinking of instant payment platforms - UPI (India) and AANI (UAE) and domestic debit/credit cards - RuPay (India) with JAYWAN (UAE).
- This will facilitate seamless cross-border transactions and enhance universal acceptance of RuPay across UAE.
- Cooperation Protocol between National Library and Archives of UAE and National Archives of India for restoration and preservation of archival material.
- Inter-governmental Framework Agreement concerning Cooperation for Empowerment and Operation of India-Middle East-Europe (IMEC) Economic Corridor.
India- UAE Relations
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