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India Pushing For Conclusion Of GCC FTA Talks

by Mary Swire, Tax-News.com, Hong Kong

19 February 2013


India has called on the United Arab Emirates (UAE) to take the lead in "re-energizing" the negotiations toward a free trade agreement between India and the Gulf Cooperation Council (GCC).

Progress on an India-GCC FTA has been slow; it was once hoped that a deal could be completed back in 2009.

Anand Sharma, India's Union Minister for Commerce, Industry & Textiles, urged Sheikha Lubna Bint Khalid Al Qasimi, Minister of Foreign Trade for the UAE, to take the initiative in pushing for a conclusion to the talks during a recent meeting.

According to Sharma, current levels of bilateral trade do not reflect their full potential, and could be improved to the mutual benefit of both India and the UAE.

Sharma also wants to see capital flow between the two regions bolstered, along with greater two-way investment, and prompted Al Qasimi on these issues.

TAGS: United Arab Emirates | free trade agreement (FTA) | India | energy | training | aviation | financial services | trade treaty | China | food | agreements | education | manufacturing | construction | trade | Dubai | services

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