Indian Prime Minister Narendra Modi recently visited the United Arab Emirates (UAE) to hold bilateral talks with the government to boost their ties. One of the key elements of their talks was related to boosting electric connectivity with each other’s collaboration. This involved signing a Memorandum of Understanding (MoU) with each other on this front, a joint statement from the two countries said.
President of the United Arab Emirates (UAE), Sheikh Mohamed bin Zayed Al Nahyan and Prime Minister of India Shri Narendra Modi met in Abu Dhabi on February 13, 2024. President Sheikh Mohamed bin Zayed Al Nahyan welcomed Prime Minister Narendra Modi to the UAE and expressed his appreciation for accepting the invitation to speak at the World Government Summit 2024 in Dubai on February 14, 2024.
Ahead of the visit, RITES Limited signed an agreement with Abu Dhabi Ports Company and Gujarat Maritime Board with Abu Dhabi Ports Company. These would help in building port infrastructure and further enhance connectivity between the two countries.
“The two leaders endorsed the efforts from both sides to strengthen the strong economic and commercial cooperation and explore new areas of collaboration. They welcomed the strong growth witnessed in the UAE-India trade relations since the entry into force of the Comprehensive Economic Partnership Agreement (CEPA) on May 1, 2022. As a result, the UAE is India’s third-largest trading partner for the year 2022-23 and India’s second-largest export destination. India is the UAE’s second-largest trading partner, with the bilateral trade rising to USD 85 billion in 2022-23. In this regard, the leaders expressed optimism regarding elevating the bilateral trade to USD 100 billion well ahead of the target year 2030. The two leaders also acknowledged the formal unveiling of the UAE-India CEPA Council (UICC), which stands as an important development in the bilateral trade partnership,” a joint statement said.
