Showing posts with label UAE. Show all posts
Showing posts with label UAE. Show all posts

Thursday, 9 January 2020

Explained: What is UAE’s new 5-year visa scheme? - Pragnya IAS Academy - News Analysis.

Explained: What is UAE’s new 5-year visa scheme?.

The United Arab Emirates (UAE) has announced a five-year multiple-entry visa scheme for all nationalities, in a move that is geared towards promoting tourism in the country.

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The United Arab Emirates (UAE) has announced a five-year multiple-entry visa scheme for all nationalities, in a move that is geared towards promoting tourism in the country.
What is UAE’s new visa scheme?
According to the Dubai-based Gulf News, prior to this, tourists could get single or multiple-entry visas for a duration of 30 or 90 days. In the new five-year multiple-entry system, visa holders may be allowed to stay for six months at a stretch. The details of the scheme are yet to be announced. The country’s Federal Authority for Identity and Citizenship will be implementing the decision.
PM Sheikh Mohammed has called for 2020 “to be a different year as it marks the year of preparation for the next 50 years (2020: towards the next 50)”.
Travellers from Africa, some South American countries, Arab states outside the Gulf, and European states from outside the European Union and the former Soviet Union previously needed visas, AFP reported.
The UAE currently receives more 2.1 crore tourists annually, and has recently increased its pace of rolling out policies to boost its trade and tourism sectors.
In July 2019, the UAE allowed women employed in the country to sponsor work permits for their husbands, fathers, and adult children, and reduced the fees for obtaining work permits by 50 per cent to 94 per cent for 145 services and transactions. In the same month, the Emirate of Dubai said it would accept the Indian rupee (INR) for transactions at duty-free stores.
This coming October, Dubai is to host Expo 2020, a big-budget global trade fair. (Source: The Indian Express)


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Explained: What is UAE’s new 5-year visa scheme?.

Thursday, 6 December 2018

India, UAE sign currency swap deal - Pragnya IAS Academy - News Analysis.

India, UAE sign currency swap deal.

The two countries to also step up cooperation in areas such as trade, security and defence.

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India and the UAE on Tuesday signed two agreements, including one on currency swap, as external affairs minister Sushma Swaraj held exhaustive discussions with her counterpart Abdullah bin Zayed Al Nahyan to step up cooperation in areas such as trade, security and defence.
Swaraj, who arrived in Dubai on Monday on a two-day visit, was received by the foreign minister of the UAE ahead of the UAE-India Joint Commission meeting.
This is the 12th session of the India-UAE Joint Commission Meeting for Economic and Technical Cooperation.
Currency Swap is a pact between two countries that allows trading in their own currencies and payments to import and export trade at a pre-determined exchange rate, without bringing in a third benchmark currency like the US dollar.
The second agreement will enable both sides to undertake development projects in Africa.
With nearly $50 billion bilateral trade, the two countries are one of the largest trade partners for each other and have made robust investments bilaterally. The UAE is the sixth-largest source of Indian oil imports and hosts a 3.3 million-strong Indian community.(Source:Livemint)


The above Article can also be read using the link below:

India, UAE sign currency swap deal.