Browsing: UAE

The UAE will halt Indian wheat exports for four months.

UAEย wheatย ban:ย Accordingย toย theย statement,ย companiesย thatย importedย Indianย wheatย intoย theย UAEย priorย toย Mayย 13,ย whenย theย suspensionย began,ย mustย firstย applyย toย theย ministry. According to state news agency WAM, the UAE’s economy ministry has ordered a four-month suspension of wheat and wheat flour exports and re-exports from India. The UAE and India signed a broad trade and investment agreement in February with the goal of lowering all tariffs on each other’s goods and increasing their annual trade to $100 billion within five years. On May 1, the Comprehensive Economic Partnership Trade Agreement (CEPA) went into effect. In the meantime, bilateral trade between India and the UAE has increased from USD 180 million (Rs 1373 crore) per year in the 1970s to USD 60 billion (Rs 4.57 lakh crore) in 2019 20, making the…