India and the United Arab Emirates will set up technical advice on investment, trade promotion and facilitation under the Comprehensive Economic Partnership Agreement (CEPA). It is approved between the two nations last month to support monetary ties.
The various parties will also try to steer clear of “any superfluous administrative burden on the digital professions”, as indicated in the CEPA press release on Sunday.
He said the parties will establish a UAE-India Technical Council on Investment and Trade Promotion and Facilitation (the Council), which will be composed of representatives of both parties.
For the protection of customers online, the agreement called for adopting and monitoring measures to protect consumers against deceptive, misleading and false commercial practices when participating in digital commerce.
The objectives of technical advice include improving collaboration and facilitation of business and trade between nations; monitoring investment and trading relationships; identify incredible opportunities to expand speculation and trade; and to recognize questions applicable to the company and the exchange that might be appropriate for additional conversation, as directed by CEPA.
The India-UAE agreement covers virtually all levy lines (or items) managed by India (11,908 tariff lines) and the UAE (7,581 tax lines).
“India will benefit from the preferential market access provided by the UAE on more than 97% of its tariff lines, which represent 99% of India’s exports to the UAE in terms of value, especially for all intensive sectors. such as gems and jewelry, textiles, leather, footwear, sporting goods, plastics, furniture, agricultural and wood products, engineering products, medical devices and automobiles,” the ministry said. of Trade and Industry in a press release.
Noting the agreement, industry body CII said delivering the text around the start of the monetary year would help industry use this CEPA to further support our products.
Both parties have further agreed to a different annex on pharmaceutical products, including automatic registration and marketing authorization in 90 days for products meeting certain rules.
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