The Foreign Minister of the United Arab Emirates (UAE), Abdullah bin Zayed Al Nahyan, will visit India on December 12. During this visit, he will meet his Indian counterpart Salman Khurshid, and will sign the Bilateral Investment Protection Agreement (BIPA). The BIPA will provide a comprehensive framework to investors from both countries – and ensure the promotion and protection of bilateral investments.
India and the UAE share warm bilateral relations that have historical roots. UAE is home to a 2 million-strong Indian expatriate population, and 700 direct flights ply every week between the two nations. India is now one of the UAE’s largest trading partners, with bilateral trade between the two nations pegged at $75 billion in 2012-2013. Among the several notable agreements signed by the two are the Double Taxation Avoidance Agreement (1992), Agreement on Security Cooperation (2011), and the Defence Cooperation Agreement (2003).