PM Modi's UAE Visit: India Inks Crucial IMEC Agreement, Other Trade Pacts

Prime Minister Narendra Modi began his two-day UAE visit on Tuesday. He received a rousing welcome as he arrived in Abu Dhabi where was received by President Mohammed bin Zayed Al Nahyan. The two leaders shook hands and hugged each other. Later they held one-on-one and delegation-level talks during which a slew of agreements were signed including one on the crucial IMEC.

Abu Dhabi:India and the United Arab Emirates signed a slew of agreements on Tuesday during the first day of Prime Minister Narendra Modi's two-day visit to the Gulf country.

Among them was the crucial India-Middle East Europe Economic Corridor (IMEC) that aims to connect Europe with India through parts of the Middle East by sea and rail, a plan backed by the U.S. and the European Union but assumed to be stalled due to Israel's war on the Palestinians in Gaza.

An official statement by Ministry of External Affairs said that PM Modi and UAE President Sheikh Mohamed bin Zayed Al Nahyan witnessed the exchange of "an Intergovernmental Framework Agreement between India and UAE on the India-Middle East Economic Corridor". "This would build on previous understandings and cooperation on this matter and foster India and the UAE cooperation furthering regional connectivity," the statement read without sharing any more details on what the sides had agreed on.

PM Modi thanked the UAE for its support for the IMEC. The corridor was announced in New Delhi during the G20 summit in September. The IMEC is being seen as an alternative to China's Belt and Road Initiative (BRI). It will connect India, the United Arab Emirates (UAE), Saudi Arabia, Jordan, Israel and Europe. PM Modi said this will not only connect the region but also open the doors for economic development.

Earlier in the day, Modi received a rousing welcome as he arrived in Abu Dhabi where he was received by UAE President with a hug and accorded the Guard of Honour.

PM Modi is in UAE for a two-day official visit during which he is set to inaugurate Abu Dhabi's first Hindu temple 'BAPs mandir'. External Affairs Minister S Jaishankar, National Security Advisor Ajit Doval, and Foreign Secretary Vinay Kwatra were among the Indian delegations present in the meeting.

"Immensely grateful to my brother, HH @MohamedBinZayed, for taking the time to receive me at Abu Dhabi airport. I look forward to a productive visit which will further strength the friendship between India and UAE," PM Modi tweeted, sharing pictures of his visit.

The two leaders held one-on-one and delegation-level talks soon after Modi landed here. They reviewed the bilateral partnership and discussed new areas of cooperation. They welcomed the deepening of the Comprehensive Strategic Partnership across sectors, including trade and investment, digital infrastructure, fintech, energy, infrastructure, culture and people-to-people ties. Discussions also covered regional and global issues, the Ministry of External Affairs said in the statement.

"I thank you for this grand welcome of me and my team. As you said, I feel that whenever I have come here, I have always felt that I have come to my home and family," Prime Minister Modi said in his opening remarks at the bilateral meeting with the UAE President. "We have met five times in the last seven months. Today, there is a mutual partnership between India and UAE in every sector," he said.

The two leaders witnessed the exchange of eight agreements including a Bilateral Investment Treaty, MoU on cooperation in the field of electrical interconnection and trade. The Bilateral Investment Treaty will be a key enabler for further promoting investments in both countries. India has signed both a Bilateral Investment Treaty and a Comprehensive Economic Partnership Agreement with UAE, the statement said.

Other agreements include an MoU on cooperation in Digital Infrastructure Projects, a Cooperation protocol between the National Archives of the two countries, an MoU for cooperation in the field of heritage and museums, an agreement on interlinking of the instant payment platforms - UPI (India) and AANI (UAE) and an agreement on inter-linking domestic debit/credit cards - RuPay (India) with JAYWAN (UAE).

Prime Minister congratulated President Sheikh Mohamed bin Zayed on the launch of UAE's domestic card JAYWAN, which is based on the digital RuPay credit and debit card stack. The leaders witnessed a transaction made using the JAYWAN card. The leaders also discussed the strengthening of their partnership in the energy sector.

They appreciated that in addition to the UAE being among the largest sources of crude and LPG (Liquefied petroleum gas), India is now entering into long-term contracts for LNG (Liquefied natural gas). Modi in his opening remarks said the UAE and India are partnering with each other in every area of cooperation.

Modi, who will inaugurate the Bochasanwasi Shri Akshar Purushottam Swaminarayan Sanstha (BAPS) Mandir, the first Hindu stone temple in Abu Dhabi, on Wednesday, said: "The BAPS temple in the UAE is an example of your affinity for India." Prime Minister thanked President Sheikh Mohamed for his personal support and for his graciousness in granting the land for the construction of the BAPS Temple in Abu Dhabi.

Both sides noted that the BAPS Temple is a celebration of UAE-India friendship, deep-rooted cultural bonds and an embodiment of the UAE's global commitment to harmony, tolerance and peaceful coexistence. Modi said the construction of the BAPS temple in Abu Dhabi would not be possible without the support from the UAE's leadership.

He also thanked him for attending the Vibrant Gujarat Global Summit in January. Given the extensive level of collaboration between the two countries, this is Modi's eighth visit to the UAE and holds significant importance in strengthening ties between the two nations.

Prime Minister Modi will travel to Qatar on Wednesday after concluding his UAE visit. This will be Modi's second visit to Qatar since 2014. The visit comes after the Emir of Qatar's announcement on Sunday to free eight former Indian Navy sailors who were jailed for suspected espionage and had received hefty prison sentences.