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India and the UAE discussed a Bilateral Investment Treaty

Published on October 06, 2023
Current Context: India and the UAE discussed a bilateral investment treaty on Thursday, October 5, 2023. The meeting was held in Abu Dhabi and co-chaired by Sheikh Hamed bin Zayed Al Nahyan, Managing Director of Abu Dhabi Investment Authority (ADIA), and Commerce and Industry Minister Piyush Goyal.
India and the UAE discussed a Bilateral Investment Treaty
  • They reviewed the progress made on the implementation of the Comprehensive Economic Partnership Agreement (CEPA) between the two countries, which came into force in May 2022.
  • They also discussed ways and incentives for encouraging further growth in investment flows from the UAE sovereign investment entities into India.
  • The Indian side shared opportunities for investments in priority sectors such as renewable energy, health, semi-conductors and asset monetisation sectors in the country.
  • The Joint Task Force delegations underscored the need to accelerate the bilateral discussions for an early conclusion of a balanced agreement that benefits both countries and their investors.
  • The bilateral investment treaty is expected to boost trade and investment ties between India and the UAE, which are fast moving towards the target of USD 100 billion non-oil trade by 2030.

Question:

Q.1 Who co-chaired the meeting in Abu Dhabi on October 5, 2023?
a. Sheikh Mohammed bin Rashid Al Maktoum and Narendra Modi
b. Sheikh Hamed bin Zayed Al Nahyan and Piyush Goyal
c. Sheikh Khalifa bin Zayed Al Nahyan and Ram Nath Kovind
d. Sheikh Abdullah bin Zayed Al Nahyan and S. Jaishankar
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