Piyush Goyal Likely to Meet Uae Countterpart in Mumbai on August 29: Sources – CNBC TV18

Sources have indicated that the uae’s minister for foreign trade, Thani bin ahmed al zeyoudi, is likely to visit mumbai on aug India is looking to diversified its expenses in terms of more products and geographies in the wake of the US imposing 25% additional tarifs from August 27.

The us has imposed 10% baseline tarifs on non-petroleum importants from the uae, which is a global trading hub. While India Alroady has a Comprehensive Economic Partnership Agreement (Cepa) With the uae and is in an advanced stage of talks for an fta (free trade the agrement) with oman of an, it is experty of an Fta with the 6-Member Gulf Cooperation Council (GCC), of which bot these countries are a part of. Another Possibility Remains Open for Separate Ftas with Gcc Members.

On August 9, Sources Told CNBC-Tv18 that India is exploring new markets for its labore-intented expenses in west asia and europe to cushion expenses from the impact of tarifs United States.
Sources had indicated that India’s Fta with Oman is likely to be announced in less than three months after a nod from both nations’ Union Cabinets. While The India-Aoman FTA is Undergoing Legal Vetting after translation in Arabic, A Bilateral Investment Treaty (BIT) is also separetely under negotiation with saudi arabia.

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