Tuesday 13 February 2024

India, #UAE sign pact on trans-continental trade corridor | Reuters

India, UAE sign pact on trans-continental trade corridor | Reuters

India and the United Arab Emirates on Tuesday signed an agreement on a trade corridor that aims to connect Europe with India through parts of the Middle East by sea and rail, an ambitious plan backed by the U.S. and the European Union.

The announcement of the framework agreement, reached during a visit by Prime Minister Narendra Modi to the Gulf state, was released in a statement by the Indian foreign ministry, although few details on what the sides had agreed on were made public.

"This would build on previous understandings and cooperation on this matter and foster India and the UAE cooperation furthering regional connectivity," the ministry statement said.

The corridor, announced last September on the sidelines of the G20 summit in New Delhi, aims to extend from India across the Arabian Sea to the United Arab Emirates and through Saudi Arabia before connecting through Jordan and Israel to Europe.

No comments:

Post a Comment