The United Arab Emirates (UAE) announced that it would be suspending the re-exports of wheat and wheat flour originating from India, the world's second biggest producer of the grain, starting from May 13, state news agency WAM said on Wednesday.
UAE's Ministry of Economy said that the moratorium applies to all wheat varieties (spelt), namely hard, ordinary, and soft wheat, and wheat flour (spelt flour).
The UAE and India signed a broad trade and investment pact in February that seeks to cut all tariffs on each other's goods and aims to increase their annual trade to $100 billion within five years.
The Ministry explained that this decision comes in view of the international developments that have affected trade flows and in appreciation of the solid and strategic relations that bind the UAE and India, especially after the signing of the Comprehensive Economic Partnership Agreement (CEPA) between the two countries and the Indian government's approval to export wheat to the UAE for domestic consumption.
The Ministry said that the companies wishing to export/re-export wheat and wheat flour varieties of Indian origin, which were imported into the country before 13th May, must submit a request to the Ministry to obtain permission to export outside of the UAE.
They must submit all documents and files that help verify the data regarding the shipment in terms of its origin, date of transaction, and any other documents that the Ministry may require in this regard.
