Davos 2023:UAE and India discussing settling non-oil trade in rupees

The United Arab Emirates is in early discussions with India to trade non-oil commodities in Indian rupees, Minister for Foreign Trade Dr Thani Al Zeyoudi told Reuters on Thursday.

The minister said other countries, including China, had also raised the issue of settling non-oil trade payments in local currencies. He added that the UAE is hoping to conclude a trade agreement with Cambodia in the first quarter.

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