India to sign trade and investment deal with UAE on Friday

 

India and United Arab Emirates will sign a trade and investment deal on Friday during a virtual summit attended by their two leaders.

The signing of the UAE-India Comprehensive Economic Partnership Agreement (CEPA) will be seen by UAE de facto ruler Mohamed bin Zayed Al Nahyan and Indian Prime Minister Narendra Modi, according to UAE state news agency WAM and various Indian publications.

Arindam Bagchi, a spokesperson for India’s foreign ministry, said during a news conference on Thursday that he did not want to predict the outcome of the meeting between the two leaders, but that additional information would be forthcoming on Friday.

“Over the last five years, relations with the United Arab Emirates have really deepened and transformed,” he remarked.

According to WAM, the agreement will “usher in a new age of economic cooperation and open up new routes for trade and investment.”