Cabinet approves India-UAE pact on IMEC

The Union Cabinet on Wednesday approved an inter-governmental framework agreement (IGFA) between India and the UAE on cooperation for the India-Middle East Europe Economic Corridor.

The IGFA is to enhance the bilateral ties and further strengthen the relations between the two countries in ports, maritime and logistics sectors, an official statement said.

IGFA includes areas of cooperation with the objective of exploring the further potential of future joint investment and collaboration with respect to the development of the India-Middle East Europe Economic Corridor (IMEC).