The two nations agreed to launch work on the India-UAE Virtual Trade Corridor (VTC). The VTC will be facilitated by the MAITRI interface, a platform that will streamline trade processes between the two countries. This initiative is part of the broader India-Middle East-Europe Economic Corridor framework.
In addition, India and the UAE signed a Memorandum of Understanding (MoU) to collaborate on critical minerals exploration in third countries. The MoU involves International Resources Holding RSC and a consortium of Indian state-owned oil and mining companies: Oil India, Khanij Bidesh India, and ONGC India. The partnership aims to strengthen the global supply chain resilience for critical minerals, which are essential for various industries.
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