New Delhi, Mar 13 (PTI) The Union Cabinet on Wednesday approved an inter-governmental framework agreement between India and the United Arab Emirates on cooperation for the India-Middle East Europe Economic Corridor.

The aim of the inter-governmental framework agreement (IGFA) is to enhance the bilateral ties and further strengthen the relations between the two countries in ports, maritime and logistics sectors, an official statement said.

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IGFA includes areas of cooperation with the objective of exploring the further potential of future joint investment and collaboration with respect to the development of the India-Middle East Europe Economic Corridor (IMEC).

The agreement contains a detailed framework for cooperation between the two countries.

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The cooperation will be based on a set of mutually agreed-upon principles, guidelines and agreements, consistent with the relevant rules and regulations of the countries' jurisdiction.

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