India, UAE Bolster Ties with Business Pacts, Eye Deeper Energy Cooperation

Abu Dhabi: Prime Minister Narendra Modi and UAE President Sheikh Mohamed bin Zayed Al Nahyan held fruitful talks in Abu Dhabi on Tuesday, further solidifying the Comprehensive Strategic Partnership between the two nations. Their meeting witnessed the signing of six key agreements, including landmark pacts on trade, investment, and regional connectivity.

Among the key pacts inked were those concerning the India-Middle-East-Europe corridor and bilateral investment protection, reflecting the commitment to deepen ties across various sectors. The leaders also highlighted the Comprehensive Strategic Partnership, emphasizing its expansion into trade, digital infrastructure, fintech, energy, culture, and people-to-people exchanges.

Notably, an agreement on a bilateral investment treaty was exchanged, signalling a boost in investment opportunities for both countries. Additionally, an MoU on energy collaboration was established to explore new avenues in energy security and trade.

Moreover, the inter-governmental framework agreement on the India-Middle East corridor aims to enhance regional connectivity, building upon existing cooperation between India and the UAE.

The leaders witnessed the signing of agreements facilitating the interlinking of instant payment platforms and domestic debit/credit cards between the two nations, promoting seamless financial transactions.

Furthermore, discussions centred around strengthening energy partnerships, acknowledging the UAE’s significant role as a supplier of crude and LPG to India, alongside India’s increasing engagement in long-term LNG contracts.

Prior to the visit, agreements were also signed between RITES Limited, Gujarat Maritime Board, and Abu Dhabi Ports Company, aiming to bolster port infrastructure and enhance connectivity between India and the UAE.

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