UAE and India discussing settling non-oil trade in rupees

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UAE

Over the years  the deep relationship between  India and UAE relationship have grow  , in terms of Economic and cooperation in different fields this year  United Arab Emirates is in early discussions with India to trade non-oil commodities in Indian rupees, Emirati minister for foreign trade Dr Thani Al Zeyoudi   

Other countries, including China, had also raised the issue of settling non-oil trade payments in local currencies, the minister said, but discussions were not at any advanced stage.  

Over all UAE  trade relations were increasingly looking to Asia, while its primary security and investment ties were in the West where Gulf Arab states have long-standing strategic partnerships especially with the United States.

Zeyoudi said that following bilateral trade deals with India and Indonesia, an agreement with Cambodia was expected to conclude in the first quarter   
 

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