India And UAE Will Now Trade In Rupees And Dirham, Signed An Agreement

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India And UAE Will Now Trade In Rupees And Dirham, Signed An Agreement

Recently, on Tuesday India and the UAE have signed a currency pact or agreement which allows both the countries to deal the trades in their own currencies by removing the third benchmark currency like the U.S Dollars.

Now, India will trade in Rupees while UAE in dirham for their import or export businesses. According to the PTI, Indian External Affairs Minister Sushma Swaraj in her two days visit to the middle east hosted exhaustive discussions with her counterpart Abdullah bin Zayed Al Nahyan to step up cooperation in areas like trade, security, and defense.

Ministry of External Affairs, Raveesh Kumar took to his Twitter and announced, “Institutional mechanisms guiding the multifaceted cooperation. Two documents signed during the visit of EAM @SushmaSwaraj to #UAE : Agreement on Currency Swap and MoU for Development Cooperation in Africa.”

Have a look at the tweet…

At the discussion, the second agreement was made for undertaking developmental projects in Africa. Swaraj sat with the 12th session of the UAE-India Joint Commission Meeting with Minister of Foreign Affairs and International Cooperation Sheikh Abdullah bin Zayed Al Nahyan held at the ministry’s headquarters in Abu Dhabi.

Raveesh informing the same and sharing the picture wrote, “Arriving in style. EAM @SushmaSwaraj and Foreign Minister of #UAE Sheikh Abdullah bin Zayed Al Nahyan arrive at the launch of #Gandhi-Zayed Digital Museum that celebrates the life and legacy of the visionary leaders.”

India and the UAE also decided to fight the terrorism on the basis of mutual respect and trust and strengthen bilateral ties. In UAE, there is more than 3.3 million-strong Indian community and it is also the sixth largest source of Indian oil imports. Well, that is a good call made by these two countries!

In another tweet, Kumar shared a video and wrote, “EAM @SushmaSwaraj offers floral tribute at the bust of #MahatmaGandhi at India Social & Cultural Centre, ahead of the Indian community event in #AbuDhabi.”

As per the reports of PTI, Sushma Swaraj inaugurated a Gandhi-Zayed Digital Museum in Abu Dhabi with the UAE foreign minister. This museum mark the celebrations of 150 years of Mahatma Gandhi’s birth and centenary celebrations of the birth of Sheikh Zayed, founder of the modern UAE.

Published by Soniya Kaur on 06 Dec 2018

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