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December 23, 2024

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Precious Metals

India says UAE will look into issue of higher precious metal exports to India

by D.William


The United Arab Emirates has agreed to look into issues raised by India over a sharp increase in UAE‘s exports of silver, platinum alloy and dry dates to the South Asian nation, India said on Tuesday.

India and the UAE signed a Comprehensive Economic Partnership Agreement (CEPA) in 2022 after 88 days of negotiations. The agreement has become a template for similar trade pacts the UAE has since signed with many other nations.

The two countries held a meeting of the Joint Committee under CEPA on Monday, where officials discussed growth in bilateral trade.

India raised the issue of higher imports of silver products, platinum alloy and dry dates and “urged UAE to verify compliance to the rules of origin norms and ensure that the rules are not circumvented,” New Delhi said in a statement.

UAE has agreed to examine India’s concerns, it added.

Growfast


Reuters reported last month that Indian and Emirati officials were expected to review their trade agreement amid concerns raised by Indian industry over a sharp increase in imports of precious metals from UAE.



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