New Delhi, March 27(IRNA) India and the United Arab Emirates (UAE) signed five pacts including an agreement on avoidance of double taxation to further expand their ties in the area of trade and investment.
The two sides signed an agreement on the framework for industrial cooperation as well. The agreements were signed here Monday after talks between Prime Minister Manmohan Singh and the visiting Vice-President and Prime Minister of the UAE Shaikh Mohammed bin Rashid Al Maktoum.
The two sides also signed a memorandum of understanding on Technical cooperation between the Emirates Authority
for Standardisation and Metrology and the National Accreditation Board for Testing and Calibration Laboratories.
Two other MOUs were signed for technical cooperation between Bureau of Indian Standards (BIS) and the Emirates Authority for Standardisation and Metrology and on Assistance and mutual cooperation between Emirates Securities and Commodities Authority and the Securities and Exchange Board of India (SEBI).
Trade between the two countries which averaged about 180 million US dollars a year in the 1970's stood at 11680 million dollars in 2004-2005. India is the sixth largest exporter to UAE.
The Dubai ruler arrived in New Delhi Sunday on a two-day official visit.