mudation.com – BREAKING NEWS!! UAE Suspends Indian Wheat Exports
UAE suspends Indian wheat exports | United Arab Emirates suspended India |
The UAE suspended the export of Indian wheat The UAE suspended India The United Arab Emirates has stopped the Indian flight. The United Arab Emirates has stopped the Indian flight
breaking news | The UAE has suspended wheat exports to India, following a ban on wheat exports to India last month to prevent price hikes.
The UAE has suspended exports of Indian flour and wheat and has ordered four months to re-export, the Gulf Department said Wednesday.
The move follows a ban on wheat exports to India last month to curb price increases. Of these, Indian wheat cannot take root in third countries through the UAE.
The ban, which the ministry has described as a “moratorium,” was imposed on 13 May “due to international circumstances affecting trade flows.” India bans wheat exports from 14 May unless backed by a letter of credit (LC) issued by a country that seeks to ensure food security.
Since then, it has approved shipments of 469,202 tonnes of wheat. The UAE Ministry of Economy said the ban “applies to all types of wheat: durum, soft wheat and soft wheat and wheat flour”.
The statement reads “a moratorium has been imposed on the export and re-export of wheat and flour from the Republic of India. The UAE will suspend exports of Indian wheat, including free zones, for four months. 13 May 2022 “.
BREAKING NEWS | UAE Suspends Indian Wheat Exports
This decision is based on international developments affecting trade flows and strong and strategic relations between the UAE and India, especially after the signing of the Comprehensive Economic Partnership Agreement between the two countries and the Indian government.
Wheat in the United Arab Emirates for domestic consumption. India and the United Arab Emirates signed the Comprehensive Economic Partnership Agreement (CEPA) in February to reduce all tariffs on their products and try to increase their annual trade by $100 billion over five years. Business begins on May 1.
“However, companies wishing to export/re-export wheat varieties and import wheat flour from India for import into the country on May 13, 2022, must apply through the ministry for issuance of an export permit outside the UAE,” the ministry said. take action.” You will have to provide all the documents and files which will help in verifying the shipment details regarding origin, transaction date and other documents that the ministry may require.
The Ministry also stated that companies exporting/re-exporting wheat products and wheat flour from non-India countries also intend to export/export abroad after applying for approval of the Ministry.
This request must be supported by any documents and files that help verify the origin of the shipment to be exported/re-exported.
The ministry noted that the export permit issued by the company is valid for 30 days from the date of issue and must be presented to the relevant customs authority to complete the process of exporting goods from UAE. UAE suspends wheat exports from India
