India and the UAE will sign an agreement that will promote and protect bilateral investments.
The pact will be signed next week i a revelation made by outgoing Ambassador of India to the UAE, MK Lokesh.
According to Gulf News, Lokesh made the announcement while speaking at the farewell lunch organised in his honour by Indian Business and Professional Council Dubai on Sunday.
The Bilateral Investment Protection Agreement (BIPA) will provide a comprehensive framework to investors from both countries.
Lokesh, who is among the brains behind BIPA, said that India and UAE have historic ties. He added that both the countries have worked hard to get the agreement ready that will regain investor confidence.
He said that a delegation from UAE headed by the Foreign Minister would visit New Delhi next week to sign the agreement with the Indian foreign Minister.
