What will happen to the agreement between the United Arab Emirates and India?
A free trade agreement was initiated between India and the United Arab Emirates last February.
The agreement came into effect very soon, i.e. on the 1st of May.
The first shipment was shipped from here on May 1st.
Was the first consignment of jewelry shipped under free trade agreement.
It was initiated by the Secretary of the Union Ministry of Commerce and Industry.
Jewelery shipped from India was received in Dubai on the same day without any import duty.
Similarly, India has the opportunity to export a wide range of products such as leather goods, footwear, gems and jewelery and furniture.
These items are not subject to import duty in the United Arab Emirates.
It aims to reach $ 100 billion in trade between the two countries in the next five years.
This is the most recent free trade agreement with UAE.
The treaty came into force in about eighty-eight days.
Currently there are some religious issues between India and the Islamic Union countries. So a few Muslim countries are refusing to import goods from India. Already imported items are removed from stores.
A slump in trade is inevitable until India takes a decision with this issue in mind.
Export Import Business Consultant - 91-9043441374
Comments
Post a Comment