Inter-Governmental Framework Agreement approved between India and UAE

The Cabinet Committee has approved the Inter-Governmental Framework Agreement between India and the United Arab Emirates on cooperation for the empowerment and operation of the India-Middle East Europe Economic Corridor. Both countries are having good diplomatic relations in history and cultural ties are also effective.

The Union Cabinet chaired by Prime Minister Shri Narendra Modi gave its Ex-post facto approval today to the Inter-Governmental Framework Agreement (IGFA) that was signed on 13th February 2024 during the High-Level visit between the Government of Republic of India and the Government of the United Arab Emirates on Cooperation for the empowerment and operation of the India-Middle East Europe Economic Corridor (IMEC).

Join PSU Connect on WhatsApp now for quick updates! Whatsapp Channel

Read Also : CMPDI unveiled Dr Bhimrao Ambedkar statue at its HQs, Ranchi

The IGFA aims to enhance bilateral relations and to further strengthen the relations between the two countries in the Ports, Maritime, and Logistics sectors. The IGFA includes areas of cooperation between the two countries to explore further potential of future joint investment and collaboration in respect of the development of the IMEC.

Read Also : IIM Sambalpur Launches Delhi I-Hub Chapter to Boost Alumni Startups & Innovation

The Agreement contains a detailed framework for cooperation between the two countries. The cooperation will be based on a set of mutually agreed upon principles, guidelines, and agreements consistent with the relevant rules and regulations of the countries' jurisdiction.

Read Also : IREDA Q2 FY26 Results: Posts 41% Rise in Net Profit, 81% Growth in Loan Disbursements