NEW DELHI: India and the UAE on Tuesday agreed to explore ways to facilitate investments in key sectors with a view to strengthen economic ties between the two countries.
The two sides agreed that the recent challenging circumstances of COVID-19 made it even more important to encourage investment and cooperation in areas of mutual interest with the purpose of stimulating economic activity.
With an aim to further strengthen trade and economic ties, both sides reiterated the importance of addressing specific perceived barriers to trade between the two countries, an official statement said.
These include issues relating to anti-dumping duties and measures, as well as any tariff and regulatory restrictions, it added.
The two sides agreed to coordinate efforts and promote mutual cooperation at the highest official levels in areas of anti-dumping and to consider these issues promptly with the objective of seeking mutually beneficial solutions, it said.
The discussions were held during the eighth meeting of the India-UAE High Level Joint Task Force on Investments.
"They agreed upon the need to further explore ways to facilitate investments in key Indian and UAE sectors with potential for economic growth, and to maintain their dialogue and further build on the considerable achievements of the Joint Task Force," the statement said.
The two sides also agreed that their civil aviation authorities should continue to work together on a priority basis, for their mutual benefit, to ensure speedy normalization of bilateral air transport operations.
The Indian side agreed to look into these issues with the objective of facilitating further direct investments of the UAE-based funds into India and seeking mutually beneficial solutions in that regard, it added.
The meeting was co-chaired by Piyush Goyal, Commerce and Industry Minister and Sheikh Hamed bin Zayed Al Nahyan, Member of the Executive Council of the Emirate of Abu Dhabi.
Senior officials from both the countries were also present.