India-UAE task force on investment to meet next month

DUBAI: The meeting of India-UAE High-level Task Force on Investment will be held in Mumbai early next month.

The Task Force is expected to hold wide-ranging discussions on priority sectors of engagement for channelling investments in the two countries.

The areas of shared interest include the agreement in principle to put in place an Bilateral Investment Promotion and Protection Agreement (BIPA) and expedite its conclusion, India's ambassador to the UAE, T.P. Seetharam said

The inaugural meeting of the India-UAE High Level Task Force on Investments was held in February last year in Abu Dhabi and was attended by over 50 government and private sector representatives from India and the UAE.

"Cooperation between private sectors and non-government organisations of the two countries already exists," Seetharam said adding more government to government cooperation will take the relations to a greater level.

Speaking on the sidelines of a reception held by UAE-based NRI businessman and Padma Shri MA Yusuf Ali, Seetharam said the task force meeting is scheduled to take place in Mumbai on March 3.

"Minister of Commerce and Industry Anand Sharma will lead the Indian delegation while the UAE side will be led by Sheikh Hamed bin Zayed Al Nahyan, MD of the Abu Dhabi Investment Authority," Seetharam said.