India-UAE pact to facilitate mutual recognition of professional degrees
The India-UAE comprehensive free trade agreement (FTA) will facilitate mutual recognition of professional degrees in sectors such as architecture, engineering, medical, nursing, accountancy, and company secretaries allowing easier mobility of skilled services professionals across the two countries, according to the agreement text released on Sunday.
The pact, which is expected to come into force on 1 May, will eliminate duties for 90% of India’s exports in value terms to the UAE covering sectors such as gems and jewellery, textiles, leather, and engineering goods.
Commerce and industry minister Piyush Goyal on Sunday announced the unveiling of the Comprehensive Economic Partnership Agreement (CEPA) between India and the UAE in Dubai. The pact, negotiated in a record 88 days was signed between the two sides on February 18. It is the first major FTA signed by the government led by Prime Minister Narendra Modi since it came to power in 2014 and is likely to benefit Indian products worth about $ 26 billion that are subjected to 5% import duty by the UAE.
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