Source: ET Infra
The Union Cabinet, under the leadership of Prime Minister Narendra Modi, accorded Ex-post facto approval to the Inter-Governmental Framework Agreement (IGFA) with the United Arab Emirates.
Signed on February 13, 2024, during a high-level bilateral visit, the agreement aims at promoting cooperation and empowerment in the operation of the India-Middle East Europe Economic Corridor (IMEC).
This strategic pact focuses on bolstering bilateral ties and fortifying relations between India and the UAE, particularly in the ports, maritime, and logistics sectors. The IGFA seeks to explore avenues for future joint investments and collaborations in the development of the IMEC, establishing a detailed framework for cooperation based on a set of mutually agreed principles, guidelines, and regulations of both countries.
“The aim of the IGFA is to enhance the bilateral relations and to further strengthen the relations between the two countries in the Ports, Maritime and Logistics sectors,” said the Cabinet’s announcement. This agreement underscores the commitment of both nations to leverage their strategic partnership for economic growth and connectivity.
