UAE Foreign Minister's Visit to India Aims to Boost Bilateral Ties
The UAE Foreign Minister, Sheikh Abdullah bin Zayed Al Nahyan, recently embarked on a significant visit to India. Randhir Jaiswal, Ministry of External Affairs spokesperson, has welcome the UAE leader as this trip will further enhance the comprehensive strategic partnership between India and the UAE. The Strategic Dialogue, co-chaired by Sheikh Abdullah and India's External Affairs Minister, S Jaishankar, emphasized the importance of enhancing economic cooperation and trade agreements. The visit, which included participation in the 4th Strategic Dialogue and the 15th India-UAE Joint Commission Meeting, underscores the deepening and expanding relationship between the two nations.
The primary objective of Sheikh Abdullah’s visit was to further enhance the comprehensive strategic partnership between India and the UAE. During the visit, high-level discussions focused on reviewing all aspects of the bilateral relationship, including strategic and economic ties.
Economic ties between the two countries are robust, with the UAE being India’s third-largest trading partner and second-largest export destination in FY24. During this fiscal year, India’s exports to the UAE were valued at $35.62 billion, with imports amounting to $48 billion. The total foreign direct investment (FDI) inflow from the UAE into India, from April 2000 to March 2024, stood at $18.5 billion, making the UAE the seventh-largest overseas investor in India. One of the key areas of discussion was the goal to achieve USD 100 billion in bilateral trade over the next five years. Both nations reiterated their commitment to this ambitious target, which aligns with their mutual economic interests.
The visit also highlighted the strong cultural and social ties between the two nations. An important cultural milestone was the signing of an MoU to establish a Cultural Council Forum, aimed at deepening cultural partnerships. Additionally, an MoU was signed between the Wildlife Institute of India and the International Fund for Houbara Conservation for the conservation of the Great Indian Bustard and the Lesser Florican, demonstrating a shared commitment to environmental sustainability.
As a future prospects, The visit underscored the potential for future collaboration in various sectors. Key discussions included linking instant payment platforms, such as India's United Payment Interface (UPI), which would streamline financial transactions and enhance bilateral trade. The two nations also explored opportunities for cooperation in sectors like technology, manufacturing, and services.
Sheikh Abdullah’s visit to India marks a significant step in strengthening the bilateral ties between the UAE and India. As both nations continue to build on their historical ties, this partnership is poised to set a new benchmark for international cooperation and strategic alliances. The UAE and India's relationship, underpinned by mutual respect and shared interests, continues to flourish, promising a future of enhanced collaboration and robust economic growth. This visit not only strengthens the existing bonds but also opens new avenues for innovation, investment, and sustainable development, making it a cornerstone of the strategic partnership between the two nations.
Comments
Post a Comment