On 17th August, 2020 13th Session of the India-UAE Joint Commission Meeting on Trade, Economic and Technical Cooperation was held virtually. Expanding economic partnership was the key agenda of the meeting.
The meeting was co-chaired by Dr. Subrahmanyam Jaishankar, Minister of External Affairs of India and Sheikh Abdullah Bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation of the United Arab Emirates.
Key Highlights of India-UAE Meeting:
i.India invited further investments from UAE in key sectors of Indian Economy such as infrastructure including logistics, food parks, highways, ports, airports, renewable energy and defence.
ii.India and UAE discussed regional issues concerning their neighbourhood and level of their cooperation at United Nations and other International forums including Organisation of Islamic Cooperation (OIC).
iii.UAE side appreciated the significant contributions made by the Indian expatriate community. Indians form the largest expatriate community in UAE, followed by Pakistan.
iv.UAE also expressed its willingness to further strengthen the links in Energy and Food Security.
v.India and UAE expressed satisfaction over continuance of momentum in the bilateral relations various areas for mutual benefit under Comprehensive Strategic Partnership.
14th India-UAE Joint Commission Meeting:
Both the sides agreed to hold the 14th Session of India-UAE Joint Commission Meeting in Abu Dhabi in 2021. The dates will be finalized by both countries through diplomatic channels.
Senior Officials Meeting (SOM):
i.On August 13, a Senior Officials Meeting (SOM)was held virtually between India and UAE.
ii.In preparation for JCM & SOM 5 sub-committees on Economic, Trade and Investment Cooperation, Consular & Community Affairs cooperation, Defence and security cooperation and Education, Culture and Youth cooperation were held on 10th and 11th August, 2020.
India-UAE Relations:
i.UAE is one of India’s top sources of energy. UAE is home to millions of expatriate Indians who send home valuable foreign remittance.
ii.The India-UAE trade relations is around USD 60 Billion. UAE is the 10th biggest FDI investor in India.
iii.UAE’s investments in India are mainly in five sectors, Services Sector , Sea Transport, Power, Construction Activities and Construction Development (Townships, Housing, Built-Up Infrastructure And Construction-Development Projects)
iv.Indian Prime Minister Narendra Modi in his Independence Day Speech on August 15, 2020 thanked UAE and other gulf countries for letting Indians stay for an extended period amid the pandemic.
Recent Related News:
Israel and the United Arab Emirates announced in August 2020 that they are establishing full diplomatic relations in a U.S.-brokered deal .
The Israel-United Arab Emirates peace agreement or the Abraham Accord was agreed by the two sides on August 13, 2020.
About UAE:
Capital – Abu Dhabi
President – Khalifa Bin Zayel Al Nahyan
Prime Minister – Mohammed Bin Rashid Al Maktoum
Currency – UAE Dirham (AED)
