Gcc India Framework Agreement

The provisions of this Agreement may be amended by mutual agreement between the Parties. Monitor the implementation of the provisions of this Agreement and other bilateral agreements or protocols concluded between the two Parties on the basis of this Agreement. Without prejudice to the provisions of the GCC Charter and the GCC Financial Agreement, this Agreement and any measures taken under this Agreement shall not affect the power of the GCC Member States to carry out individual bilateral activities with the Republic of India in the areas covered by this Agreement or to conclude bilateral agreements with the Republic of India. the Government of the Republic of India and the Governments of the United Arab Emirates, the Kingdom of Bahrain, the Kingdom of Saudi Arabia, the Sultanate of Oman, the State of Qatar and the State of Kuwait, which are Parties to the Charter of the Cooperation Council for the Arab States of the Gulf, hereinafter referred to as the “GCC States”; (hereinafter referred to as the Contracting Parties) As a result, negotiations with the GCC have begun. Two rounds of negotiations have taken place so far in 2006 and 2008. The third round did not take place because the GCC postponed its negotiations with all countries and economic groups and is currently reviewing its negotiations with all countries and economic groups. Efforts are being made in various bilateral/multilateral for a to resume negotiations as soon as possible. Desiring to strengthen and develop economic cooperation between them on the basis of equality and mutual interest, and taking into account the laws and regulations in force in their countries,. . . The Parties shall encourage the exchange of visits between representatives, delegations and economic, trade and technical missions, as well as the organisation of temporary exhibitions, and shall provide the necessary facilities and assistance to promote economic cooperation. Adopt recommendations aimed at improving economic, trade, technical and investment cooperation between the two sides, promoting their economic relations and increasing the volume of trade between them.

Considering the importance of the friendship that already exists between them, and.. The Joint Committee shall have the power, at its discretion and if necessary, to establish specialized subcommittees or working groups. The committee shall designate the tasks and functions of such subcommittees and working groups, provided that such subcommittees and working groups submit their reports and recommendations to the joint committee. The Parties shall make appropriate arrangements for capital flows between them by setting up joint investment projects and facilitating business investment in various sectors of the economy, trade and industry. Improve the exchange of information on foreign trade. The Parties shall promote economic cooperation between themselves in various fields and promote the exchange of information and the necessary technical expertise in those fields. . The Parties shall endeavour to create a favourable climate for the promotion of trade between them by: promoting commercial communication, in particular between bodies and organisations involved in foreign trade (hereinafter referred to as the Parties) by paying attention to training and technology transfer. . Pursuant to this Agreement, a Joint Economic Cooperation Committee is hereby established.

This Committee shall meet alternately in the countries of the two Parties at intervals agreed upon. The degree of participation in the Committee is determined in advance. The Committee shall have the following tasks:. The Parties shall examine ways to develop and liberalise their trade relations, including the opening of discussions on the feasibility of a free trade area between them, taking into account their international obligations and WTO principles. IN WITNESS WHEREOF, the duly authorized signatories signed this Agreement at New Delhi on 9 Rajab 1425H, in accordance with 25 August 2004, in two originals in Hindi, Arabic and English, each of these texts being equally authentic. .