Intuit News Letter - July 2014

1. July 2014 Issue 22
Intuit Management Consultancy
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India, China sign three key MoUs on industrial parks
The MoU on industrial parks provides an enabling framework for Chinese companies to invest in
industrial parks and zones. The MoU will ensure cooperation between Lal Bahadur Shastri
National Academy of Administration, Mussoorie and China Executive Leadership Academy,
Pudong, Shanghai.
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The United States and Singapore agreement on Tax Evasion
The US and Singapore have finalized their discussion on an agreement designed for tax
information sharing regarding US citizens, permanent residents and entities. Intergovernmental
Agreement (IGA) wants all Singapore based financial institutes to confirm and submit information
to IRAS US Foreign Account Tax Compliance Act (FATCA).
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European Free Trade Association - Gulf States Foreign Trade Agreement
Enters In Force
Five years after its ink, the free trade agreement (FTA) between the European Free Trade
Association (EFTA) States – Liechtenstein, Iceland, Norway and Switzerland – and the
Cooperation Council for the Arab States of the Gulf (GCC), comprising Bahrain, Oman, Kuwait ,
Saudi Arabia, Qatar and the United Arab Emirates, became into operation.
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Ethiopia to expand economic ties with UAE
Mulatu Teshome , Ethiopian President has expressed his interest to welcome more UAE
investors to his country’s markets and to elaborate economic relations with UAE. He met with a
delegation from UAE’s Majid Al Futtaim Group, retail and leisure major in the Middle East and
North Africa (Mena), in the presence of Yousuf Eisa Al Saberi, UAE Ambassador to Ethiopia and
Permanent Representative to the African Union.
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U.A.E.'s Jebel Ali voted Best Seaport in Middle East for 20th year
Asian Freight and Supply Chain Awards, AFSCA is an Asia's longest-running awards event
established in 1987. The AFSCA includes sea and air ports, air cargo and container awards and
the best green service provider’s awards. AFSCA announced Jebel Ali Port has been voted the
"Best Seaport - Middle East" for the 20th time.
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Treaty Updates
Please find here the treaty updates for the month of July 2014.
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Intuit Research Team
Intuit Management Consultancy
India Tel: +91 9840708181 Fax: +91 44 42034149
Dubai Tel: +971 55 5542384 Fax: +971 4 3709307
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