{"id":228276,"date":"2023-02-23T19:15:07","date_gmt":"2023-02-23T13:45:07","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=228276"},"modified":"2023-02-23T19:15:07","modified_gmt":"2023-02-23T13:45:07","slug":"india-uae-explore-virtual-trade-corridor-to-fast-track-shipments","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/india-uae-explore-virtual-trade-corridor-to-fast-track-shipments\/","title":{"rendered":"India, UAE explore virtual trade corridor to fast-track shipments"},"content":{"rendered":"\n<p><b>Source: <\/b><span style=\"font-weight: 400;\">The post is based on the article <\/span><b>\u201cIndia, UAE explore virtual trade corridor to fast-track shipments\u201d <\/b><span style=\"font-weight: 400;\">published in<\/span><b> Indian Express on 23rd February 2023<\/b><\/p>\n<h2><b>What is the News?<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">India and the UAE are exploring creating a virtual trade corridor to facilitate quicker clearance of shipments.<\/span><\/p>\n<p><b>Note: <\/b><span style=\"font-weight: 400;\">In 2022, UAE has signed an agreement with Kuwait to set up a virtual trade corridor.<\/span><\/p>\n<h2><b>What is a Virtual Trade Corridor planned between India and UAE?<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">The Virtual Trade Corridor is aimed at cutting the cost and time for customs clearance and speeding up bilateral trade.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Under the corridor proposal, the customs authorities of the two countries will explore the possibility of accessing pre-arrival information for cargo movement. It will make cross-validation of information significantly faster, besides facilitating pre-clearance of goods.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This will complement the bilateral comprehensive free trade agreement signed between India and the UAE in 2022. It immediately eliminated duties on 90% of India\u2019s exports in value terms and covered sectors like gems and jewelry, textiles, leather, and engineering goods.<\/span><\/p>\n<p><b>Benefits: <\/b><span style=\"font-weight: 400;\">Pre-arrival online document checks by Customs and allied agencies will reduce delays and benefit exporters on both sides.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u2013 Further, it will provide a seamless flow of cargo on both sides, helping trade to grow without hiccups.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Source: The post is based on the article \u201cIndia, UAE explore virtual trade corridor to fast-track shipments\u201d published in Indian Express on 23rd February 2023 What is the News? India and the UAE are exploring creating a virtual trade corridor to facilitate quicker clearance of shipments. Note: In 2022, UAE has signed an agreement with&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/india-uae-explore-virtual-trade-corridor-to-fast-track-shipments\/\">Continue reading <span class=\"screen-reader-text\">India, UAE explore virtual trade corridor to fast-track shipments<\/span><\/a><\/p>\n","protected":false},"author":10317,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1566,9],"tags":[10500],"class_list":["post-228276","post","type-post","status-publish","format-standard","hentry","category-daily-factly-articles","category-public","tag-indian-express","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1700136740},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/228276","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10317"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=228276"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/228276\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=228276"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=228276"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=228276"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}