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India-UAE hold talks over GCC and bilateral trade issues

Written by: Staff
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Dubai, Mar 27 (UNI) Minister of Commerce and Industry Kamal Nath today met UAE Minister of Economy Sheikha Lubna Bint Khalid Al Qasimi in Abu Dhabi and discussed bilateral relations and cooperation, particularly in economic and commercial fields.

The two ministers also discussed the progress on free trade agreement between the six-nation Gulf Cooperation Council(GCC) countries and India, official news agency WAM reported.

The volume of trade exchange between the UAE and India has reached 15.772 billion dollars in 2003, with the UAE non-oil exports accounting for 4 billion dollars and imports estimated at 12 billion dollars, an official statement noted.

India's exports to GCC countries touched 10 billion dollars between April 2004 and March 2005 while its non-oil imports from the GCC reached 7 billion dollars within the same period.

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