The visiting Foreign Minister of UAE, Sheikh Abdullah bin Zayed Al Nahyan, in his meeting with Prime Minister, Narendra Modi, said that UAE attaches the highest importance to comprehensive strategic partnership with India.
He expressed commitment to speedily implement the outcome of Modi’s visit there last month, including in the fields of trade and investment, defence and security.
The UAE has agreed to increase investments in India to USD 75 billion (about Rs 5 lakh crore) and raise the bilateral trade to nearly USD 100 billion in five years. The two-way trade stood at about USD 60 billion in 2014-15.
During the India-UAE Business Meet, UAE Minister of State for Economic Affairs Reem Ibrahim Al Hashimiy said infrastructure is a key area of interest.
To take the talks forward, Commerce and Industry Minister Nirmala Sitharaman will be visiting that country next month.
An MoU was signed between Federation of Indian Chambers of Commerce and Industry (Ficci) and the Federation of UAE Chamber of Commerce & Industry for improvement of trade, industrial and other ties between India and the United Arab Emirates (UAE).
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