India-UAE ideate virtual trade corridor for quicker clearance of shipments

New Delhi, Feb 23 (KNN) To fast-track shipments between India and UAE, both the countries are planning to create a virtual trade corridor. 

Under the proposal, approvals and clearances related to customs will be given online on both sides.

It aims to reduce cost and time for customs clearance and speed up bilateral trade. 

Complementing the bilateral comprehensive free trade agreement signed between India and the UAE last year it will ease trade between the two countries.

The UAE last year signed an agreement with Kuwait to set up a virtual trade corridor.  (KNN Bureau)