UAE foreign minister visiting India Dec 12

New Delhi, Dec 9: India and the UAE will ink a bilateral investment promotion and protection agreement during the visit of UAE Foreign Minister Sheikh Abdullah Bin Zayed Al Nahyan here Dec 12.

The UAE foreign minister is coming at the invitation of External Affairs Minister Salman Khurshid, said a statement by the ministry of external affairs.

The UAE minister had earlier visited India in May 2012 for bilateral discussions.

“During the visit, the two sides will discuss bilateral, regional and other issues of mutual interest. It is expected that an agreement on Bilateral Investment Promotion and Protection will also be signed,” the statement said.

The BIPPA is to provide a comprehensive framework to investors from both countries.

Bilateral trade between the two countries crossed $74 billion during 2012-13.

The UAE is the 10th largest investor in India in terms of foreign direct investment. It is also the fifth largest supplier of crude oil to India. The Indian community, which is 1.9 million strong, is the largest expatriate group in the UAE.