(Abu Dhabi) – The UAE and India have agreed in principle to start negotiation on Bilateral Investment Protection Agreement and conclude it at the earliest during Indian Finance Minister P.Chidamabaram’s official UAE visit. H.H. General Sheikh Mohammad Bin Zayed Al Nahyan, Abu Dhabi Crown Prince and Deputy Supreme Commander of the UAE Armed Forces, received the Indian Minister at Emirates Palace in Abu Dhabi, in the presence of H.E. Sheikh Hamed Bin Zayed Al Nahyan, Chairman of the Abu Dhabi Crown Prince’s Court and managing director of Abu Dhabi Investment Authority (ADIA).
The Indian Minister assured the UAE leaders that India would take concrete steps to address the concerns about the UAE’s investments in India. Chidambaram also expressed confidence in sorting out certain undefined issues related to Bilateral Investment Protection Agreement (BIPA).
Chidambaram also sought for more UAE investments in greenfield projects in Indian infrastructure sector, which seeks $1 trillion (Dh3.67 trillion) in investments in the next five years, of which 50 per cent is expected from private sector or foreign investors.
