GG News Bureau
New Delhi, 14th March. The Union Cabinet on Wednesday granted ex-post facto approval to the Inter-Governmental Framework Agreement (IGFA). This agreement, inked on February 13, 2024, during a high-level visit between the governments of India and the United Arab Emirates (UAE), focuses on cooperation for the empowerment and operation of the India-Middle East Europe Economic Corridor (IMEC).
The primary objective of the IGFA is to elevate bilateral relations and fortify cooperation between the two nations, particularly in the domains of Ports, Maritime, and Logistics sectors.
Outlined within the IGFA are areas of collaboration, with a concerted effort to tap into the untapped potential for joint investments and collaborative ventures in IMEC’s development.
The agreement delineates a comprehensive framework for cooperation between India and the UAE, grounded on a mutually agreed set of principles, guidelines, and agreements in alignment with the respective countries’ jurisdictional regulations.
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