The move comes after India imposed a ban on wheat exports last month to prevent a jump in local prices.
The move comes after India imposed a ban on wheat exports last month to prevent a jump in local prices.
The Gulf economy ministry said on Wednesday that the UAE has ordered the suspension of the export and re-export of wheat and wheat flour originating from India for four months.
the trick is like this India bans export of wheat To check the jump in local prices in the last month. Due to this, Indian wheat cannot be transported to third countries through UAE.
The ban, which the ministry called a ‘postponement’, has been imposed with effect from May 13 “in view of international developments affecting trade flows”.
India had on May 14 banned the export of wheat, except to countries backed by a Letter of Credit (LC) already issued and ensuring food security. Since then, it has allowed shipment of 469,202 tonnes of wheat.
The UAE’s Ministry of Economy said the ban “applies to all wheat varieties, namely hard, ordinary and soft wheat and wheat flour.” A statement said that “for a period of four months beginning May 13, 2022, the export and re-export of wheat and wheat flour originating from the Republic of India, including in free zones, is prohibited. ”
The decision comes in appreciation of international developments fueling trade flows and the solid and strategic ties that bind the UAE and India, especially after the signing of the Comprehensive Economic Partnership Agreement between the two countries and the Indian government. UAE allowed to export wheat for domestic consumption.
India and UAE signed in February Comprehensive Economic Partnership Trade Agreement (CEPA) aims to cut all tariffs on each other’s goods and increase its annual trade to US$100 billion within five years.
This agreement has come into effect from 1 May.
“However, companies desirous of exporting/re-exporting wheat and wheat flour varieties of Indian origin, which were imported into the country before May 13, 2022, shall be permitted to export outside UAE. A request has to be submitted to the Ministry to obtain the same.” Ministry said.
They have to submit all the documents and files which help in verifying the data related to the shipment with reference to its origin, date of transaction, and any other documents that the Ministry may require.
The Ministry also indicated that in case of wheat and wheat flour products of non-Indian origin, companies who wish to export/re-export the same may do so after applying to the Ministry for export permission outside the country. can do
This application should also be supported by all documents and files that help to verify the origin of the shipment to be exported/re-exported.
The ministry noted that the export permit issued to the companies is valid for 30 days from the date of issue and shipments from the UAE must be submitted to the relevant customs department to complete the export procedures.