New Delhi: Crown Prince of Abu Dhabi Sheikh Khaled bin Mohamed bin Zayed Al Nahyan's visit commenced with a bilateral meeting between the Crown Prince and Prime Minister Narendra Modi earlier today. The Prime Minister extended warm greetings to Sheikh Mohamed bin Zayed Al Nahyan, the President of the UAE.
The leaders expressed satisfaction with the progress of the India-UAE Comprehensive Strategic Partnership and explored avenues for further collaboration. They highlighted the successful implementation of the Comprehensive Economic Partnership Agreement (CEPA) and the recent Bilateral Investment Treaty (BIT) as pivotal to strengthening economic and commercial ties. Both leaders emphasised the importance of delving into new areas of cooperation, particularly in nuclear energy, critical minerals and advanced technologies.
Several key agreements were signed during the visit to enhance cooperation across traditional and emerging sectors.
An MoU was signed on nuclear cooperation between Nuclear Power Corporation of India Limited (NNPCIL) and Emirates Nuclear Energy Corporation (ENEC) aimed at improving collaboration in nuclear power plant operations, maintenance and mutual investment opportunities.
A Long-term LNG Supply Agreement was signed between Abu Dhabi National Oil Company (ADNOC) and Indian Oil Corporation Limited (IOCL) for 1 MMTPA annually marking the third such contract in over a year. This agreement is expected to bolster India's energy security.
MoU was signed between ADNOC and India Strategic Petroleum Reserve Limited (ISPRL). This agreement explores ADNOC's role in additional crude storage opportunities in India and the renewal of existing storage agreements.
Production Concession Agreement was signed for Abu Dhabi Onshore Block 1, between Urja Bharat (a joint venture of IOCL and Bharat Petro Resources Ltd) and ADNOC. This agreement allows Urja Bharat to bring crude oil to India, enhancing the country’s energy security.
MoU on Food Parks was signed between the Government of Gujarat and Abu Dhabi Developmental Holding Company PJSC (ADQ) to develop food parks in Gundanpara, Bavla, and Ahmedabad with the project slated to commence in Q2 2025.
In addition to his official engagements, Sheikh Khaled visited Rashtrapati Bhavan to meet President Droupadi Murmu. Discussions revolved around the long-standing and multifaceted relationship between India and the UAE, with President Murmu expressing appreciation for the UAE’s hospitality towards the Indian diaspora.
The Crown Prince also paid tributes to Mahatma Gandhi at Rajghat, marking the occasion by planting a sapling, a tradition followed by his father, Sheikh Zayed bin Sultan Al Nahyan, in 1992, and his brother, Sheikh Mohamed Bin Zayed Al Nahyan, in 2016. This gesture symbolises the enduring bond between the two nations.
On Tuesday, Sheikh Khaled will travel to Mumbai to participate in the India-UAE Business Forum, which will serve as a platform for exploring future business collaborations. The event will also feature the soft launch of the India-UAE Virtual Trade Corridor (VTC) and the MAITRI interface designed to facilitate the VTC.
The visit underscores the strengthening of India-UAE relations and the commitment to expanding cooperation across various sectors.
"India and UAE share historically close and friendly ties. In recent years, the Comprehensive Strategic Partnership between India and UAE has deepened in a wide range of areas including political, trade, investment, connectivity, energy, technology, education, and culture. The Crown Prince's visit will further reinforce strong India-UAE bilateral relations and open avenues for partnership in new and emerging areas," the Ministry of External Affairs (MEA) said last week.
In January, UAE President Mohammed bin Zayed Al Nahyan visited India and explored ways to further build upon the strategic partnership between the two countries during his discussions with PM Modi. He also attended the 10th edition of the Vibrant Gujarat Global Summit. In July 2023, PM Modi visited the UAE - his fifth visit to the country since 2015 when he became the first Prime Minister of India to visit the UAE in 34 years.
The India-UAE relationship was formally elevated to a Comprehensive Strategic Partnership during the visit of Sheikh Mohamed bin Zayed Al Nahyan to India in 2017. According to the Prime Minister's Office (PMO), India-UAE trade rose to USD 85 billion in 2022, making the UAE India's third-largest trading partner for the year 2022-23 and India's second-largest export destination.
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