✅Agreements between the Indian and UAE governments.

♻️India-UAE High-Level Joint Task Force on Investments :

✅The 11th meeting of the India-UAE High-Level Joint Task Force on Investments was held in Abu Dhabi.

✅The Joint Task Force was established in 2013 to promote trade, investment and economic ties between India and the UAE. 

✅The Joint Task Force has provided an effective mechanism for discussion on opportunities & prospects for investments in both countries as well as the resolution of issues faced by investors of the two countries.

✅During the meeting, the implementation of the Comprehensive Economic Partnership Agreement (CEPA) between the two countries was reviewed.

✅The CEPA had come into force in May 2022.

✅It has helped reduce tariffs on more than 80 percent of product lines, eliminate barriers to trade and create new pathways for investment and joint ventures. 

✅The status of negotiations for the India-UAE Bilateral Investment Treaty was also discussed.

♻️MoU signed between India and the UAE :

✅The MoU focuses on facilitating industrial investments, technology transfer and enabling the deployment of key technologies in industries.

✅It is expected to benefit both nations through joint industrial and technological developments.

✅The MoU focuses on seven key areas, including supply chain resilience, renewable energy and energy efficiency, health and life sciences, space systems, AI, Industry 4.0 and advanced technologies, as well as standardization and metrology.

♻️RuPay Domestic Card Scheme Agreement between India and the UAE :

✅NPCI International Payments Limited (NIPL), a wholly-owned subsidiary of the National Payments Corporation of India (NPCI), has entered into a strategic partnership agreement with Al Etihad Payments (AEP) for Domestic Card Scheme (DCS) Implementation in UAE. 

✅As per the agreement, NIPL and AEP will work together to build, implement, and operationalize UAE’s national domestic card scheme. 

✅The DCS will aim to facilitate the growth of e-commerce and digital transactions in the UAE, bolster financial inclusion, support the UAE’s digitization agenda, increase alternate payment options, reduce the cost of payments, and enhance the UAE’s competitiveness and position as a global payments leader.

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