In 2024, India will be active on the global stage, building partnerships and strengthening ties with countries. This year, the two sides signed a number of important agreements, marking new progress in economic, strategic and technological cooperation.
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The most noteworthy among them is the Bilateral Investment Treaty (BIT) signed with the United Arab Emirates on February 13, which aims to strengthen investment protection and cultivate a resilient economic environment between the two countries.
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The treaty replaces the previous Bilateral Investment Promotion and Protection Agreement (BIPPA) and emphasizes investor confidence through a robust dispute settlement mechanism.
On September 21, during Prime Minister Narendra Modi’s visit to the United States to attend the Quad Summit, India signed two important agreements under the Indo-Pacific economic framework: the “Clean Economy Agreement” and the “Fair Economic Agreement.”
In this article, we will look at major and other agreements that emphasize India’s growing role in international relations.
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ASEAN-India Trade in Goods Agreement Review
- Country: ASEAN countries
- Signing date: November 21-22, 2024
India participated in the review of the ASEAN-India Agreement on Trade in Goods (AITIGA) on November 21 and 22, 2024.
The meeting aims to strengthen trade relations between India and ASEAN member states by discussing necessary updates to existing agreements.
With bilateral trade reaching $73 billion from April to October 2024, this review is critical to sustaining growth and addressing emerging trade challenges.
The discussions focused on improving market access and reducing trade barriers, reflecting India’s commitment to deepening economic ties with ASEAN countries for mutual benefit.
India-Kuwait Joint Commission Agreement
- Country: Kuwait
- Signing date: December 2024
In December 2024, during his visit to India, the Kuwaiti Foreign Minister signed a memorandum of understanding to establish a joint committee for cooperation at the foreign ministerial level.
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The agreement aims to strengthen bilateral relations in various fields including trade, investment, education, technology, agriculture, security and culture.
The establishment of the committee reflects the commitment of both countries to promote cooperation and effectively address common interests.
By setting up a new joint working group under this framework, India seeks to strengthen its strategic partnership with Kuwait while promoting regional stability.
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Bilateral Investment Treaty (BIT) with the UAE
- Country: United Arab Emirates (UAE)
- Signing date: December 13, 2024
India signed a Bilateral Investment Treaty (BIT) with the UAE on December 13, 2024. The treaty replaces the previous Bilateral Investment Promotion and Protection Agreement, which expired in September 2024.
The BIT aims to provide a safe environment for investors from both countries by ensuring minimum standards of treatment and non-discrimination. Introduce an independent arbitration mechanism to resolve disputes and enhance investor confidence.
The treaty embodies a shared commitment to promote economic cooperation and create a robust investment framework.
This is expected to increase bilateral investment, benefiting businesses and economies in both countries. The BIT positions India and the UAE as strategic partners in the global economy by facilitating smoother investment flows.
Fourth India-UAE Strategic Dialogue
- Country: United Arab Emirates (UAE)
- Signing date: December 12, 2024
On December 12, 2024, India and the United Arab Emirates held the fourth strategic dialogue in New Delhi. The high-level meeting focused on expanding cooperation in defence, renewable energy and emerging technologies.
The dialogue was co-chaired by the Minister of External Affairs of India and the Deputy Prime Minister and Minister of Foreign Affairs of the United Arab Emirates and discussed regional and international issues of mutual concern.
The discussions aimed at strengthening bilateral relations by strengthening strategic partnerships in various fields.
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Both countries have emphasized their commitment to cooperation in areas such as nuclear energy and critical minerals.
The dialogue marks an important step in deepening ties between India and the UAE and reflects their shared vision for a stable and prosperous region.
Agreement with Belarus on forensic activities
- Country: Belarus
- Signing date: December 17, 2024
India and Belarus signed an agreement on December 17, 2024, focusing on cooperation in forensic activities. The agreement aims to strengthen cooperation between the two countries in the field of forensic science.
It includes sharing of expertise, technology transfer and joint training programs for forensic professionals. By strengthening forensic capabilities, both countries seek to improve their criminal justice systems and make law enforcement more efficient.
This partnership reflects India’s commitment to international cooperation to solve crime and promote justice through scientific methods.
The agreement is expected to facilitate knowledge exchange and foster closer ties between Indian and Belarusian forensic institutions.
Transfer Agreement for Sentenced Persons
- Country: Multiple countries
- Signing date: December 19, 2024
On December 19, 2024, India signed a total of 31 bilateral agreements on the transfer of sentenced persons to various countries.
These agreements allow Indian prisoners held abroad to serve the remainder of their sentences in India and vice versa. The initiative aims to ensure the welfare of Indian citizens imprisoned overseas while addressing humanitarian concerns.
By facilitating these transfers, India seeks to provide prisoners with opportunities for rehabilitation in their home countries.
The move reflects India’s commitment to protecting the rights of its citizens abroad while promoting international cooperation on criminal justice matters.
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Source: https://dinhtienhoang.edu.vn
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