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UAE, India to sign trade and investment deal on Friday

Indian Prime Minister Narendra Modi (right) reaches out for a handshake to Sheikh Mohammed bin Zayed al-Nahyan, Crown Prince of Abu Dhabi and Deputy Commander-in-Chief of the United Arab Emirates Armed Forces during a session photo before their meeting at Hyderabad House in New Delhi, India, January 25, 2017. REUTERS/Adnan Abidi

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DUBAI, Feb 17 (Reuters) – The United Arab Emirates and India will sign a trade and investment agreement on Friday at a virtual summit attended by the two countries’ leaders, local Emirati and Indian media said.

De facto UAE leader Mohamed bin Zayed Al Nahyan and Indian Prime Minister Narendra Modi will attend the signing of the Comprehensive Economic Partnership Agreement (CEPA) between the UAE and India, the agency reported. UAE state press WAM and several Indian newspapers.

Indian Foreign Ministry spokesman Arindam Bagchi told a press conference on Thursday that he did not want to prejudge the outcome of the meeting between the two leaders, adding that the ministry would make more information available on Friday.

“Relations with the United Arab Emirates have really seen a deepening and transformation over the past few years,” he said.

The agreement “will usher in a new era of economic cooperation and open greater avenues for trade and investment,” WAM said on Wednesday evening.

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Reporting by Alexander Cornwell in Dubai and Alasdair Pal in New Delhi; edited by Richard Pullin and Raissa Kasolowsky

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