Looking to build on the progress made by both countries under the Comprehensive Strategic Partnership signed in 2017, both ministers expressed a desire to reach a mutually beneficial economic deal, an official release said.

Both sides aim at concluding negotiations by December and sign a formal agreement in March next year after the completion of internal legal procedures and ratification.

The UAE is currently India’s third-largest trading partner with bilateral trade in fiscal 2019-20 valued at $59 billion. The UAE is also India’s second-largest export destination after the United States, with exports valued at approximately $29 billion in 2019-20.

Fibre2Fashion News Desk (DS)