India, UAE sign investment treaty to promote further capital flows between two partners

India, UAE sign investment treaty to promote further capital flows between two partners

Abu Dhabi: An investment treaty was signed between India and UAE following a bilateral meeting between Prime Minister Narendra Modi and UAE President Sheikh Mohamed Bin Zayed Al Nahyan held on Tuesday. India has signed both a Bilateral Investment Treaty and a Comprehensive Economic Partnership Agreement with UAE, which are going to be a key enabler for further promoting investments in both countries. Explaining the bilateral investment treaty, India's foreign secretary Vinay Kwatra said it aims to promote further capital flows between the two economies. "The agreement will set the basis for a stronger and more extensive wide-ranging investments partnership, cause it focuses not just on protecting the existing investment it also advances the objective of promoting further capital flows between the two economies," Kwatra told reporters. PM Modi who arrived in Abu Dhabi on Tuesday on an official two-day visit to the UAE. In a special and warm gesture, he was received at the airport by the President of the UAE Sheikh Mohamed bin Zayed Al Nahyan, and thereafter, accorded a ceremonial welcome. The two leaders held one-on-one and delegation-level talks. They reviewed the bilateral partnership and discussed new areas of cooperation. They welcomed the deepening of the Comprehensive