India-UAE Bilateral Talks

On June 28, 2022, Prime Minister Narendra Modi and President of United Arab Emirates Sheikh Mohammed Bin Zayed Al Nahyan held bilateral talks at Abu Dhabi.

Key Points

  • Both the leaders reiterated their commitment to deepen and diversify India-UAE Comprehensive Strategic Partnership.
  • This was the first in-person meeting between both the leaders, since August 2019.
  • PM Modi visited this time, to specifically convey his personal condolences on passing away of Sheikh Khalifa bin Zayed Al Nahyan.
  • During this, he also congratulated Sheikh Mohamed bin Zayed Al Nahyan on becoming third President of the UAE.

Vision Statement

During the virtual summit, leaders of India and UAE released a vision statement. This statement laid the roadmap for bilateral cooperation in diverse areas including trade, energy including renewable energy, investment, health, food security, skills, education, defence, culture and people-to-people ties. Both sides were satisfied that India and UAE continue to hold a closer partnership across these areas. They continue to build on their close and friendly relations besides the historical people-to-people connections.

Comprehensive Economic Partnership Agreement

India and UAE signed the “Comprehensive Economic Partnership Agreement (CEPA)”, on February 18, 2022 during Virtual Summit. This agreement has entered into force on May 1. CEPA is likely to boost trade and investment between India and UAE.

Bilateral trade between India and UAE

Bilateral trade between both the countries in 2021-22 was around 72 billion dollars. UAE is the third-largest trade partner of India and second-largest export destination. UAE FDI has continuously increased in India, over the past few years. It currently stands at more than 12 billion dollars.

India-UAE relations

The diplomatic relations between India and the UAE were established in 1972. Bilateral relations were pushed to a new height when Indian Prime Minister visited UAE in August 2015. This visit marked the start of new strategic partnership between both the countries. Later, Crown Prince of Abu Dhabi Visited India in 2017, as the chief guest at Republic Day celebrations. During his visit, both the leaders agreed to upgrade the relations to a “comprehensive strategic partnership”.

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