New Delhi:

India and the United Arab Emirates (UAE) aim to deepen ties and enhance their Comprehensive Strategic Partnership as the Crown Prince of Abu Dhabi, Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, arrives in India on an official visit on September 9-10.

Abu Dhabi’s Crown Prince is visiting India at the invitation of Prime Minister Narendra Modi. This would be his first visit to New Delhi as the Crown Prince.

He is being accompanied by top ministers from the UAE as well as a business delegation, the Ministry of External Affairs has said.

The Crown Prince of Abu Dhabi – the next King – will meet PM Narendra Modi on Monday. It is the first time India is officially engaging with the next generation of royalty and government from the UAE, highlighting the importance India gives to its ties with the UAE.

Apart from his meeting with PM Modi, the Crown Prince will also call on President Droupadi Murmu.

THE CROWN PRINCE’S SCHEDULE

On September 9, the Crown Prince’s day will begin with a visit to Rajghat to pay tribute to Mahatma Gandhi.

Later in the day, the Crown Prince will meet Prime Minister Narendra Modi and the two leaders would hold discussions on a wide range of areas concerning bilateral cooperation. This would likely be followed by a joint press conference where several agreements or MoUs will be exchanged.

Besides bilateral issues, the two leaders are also expected to have a detailed discussion on the overall situation arising out of the Israel-Hamas conflict.

The Crown Prince will also call on President Droupadi Murmu at the Rastrapati Bhavan.

On September 10, the Crown Prince will visit Mumbai to participate in a Business Forum, in which top business leaders from both countries will participate.

INDIA-UAE PARTNERSHIP

Since the landmark visit by PM Modi to UAE in August 2015, the first by an Indian Prime Minister in 34 years, bilateral relations between the two countries have elevated to a Comprehensive Strategic Partnership.

Both countries signed a Comprehensive Economic Partnership Agreement or CEPA in February 2022 and a Local Currency Settlement (LCS) System in July 2023 to promote the use of Indian Rupee and AED (United Arab Emirates Dirham) for cross-border transactions.

India is the UAE’s second-largest trading partner, while the UAE is India’s largest trading partner in the Arab world. Total trade between India and the UAE is projected to reach USD 100 billion by the end of the decade. The bilateral trade between the two countries in 2022-23 was about USD 85 billion, according to official data.

The UAE is also among the top four investors in India in terms of Foreign Direct Investments or FDI in 2022-23.

“India and UAE share historically close and friendly ties. In recent years, the Comprehensive Strategic Partnership between India and UAE has deepened in a wide range of areas, including political, trade, investment, connectivity, energy, technology, education, and culture,” the MEA said.

“The Crown Prince’s visit will further reinforce strong India-UAE bilateral relations and open avenues for partnership in new and emerging areas,” it added.

The Indian community, which numbers over 3.5 million, plays an essential role in the UAE. Their contributions to the economy and cultural landscape of the UAE underscores the deep connections between the nations.

The UAE was a special invitee for the G20 Summit in New Delhi during India’s Presidency.

With India’s active support, the UAE also joined the Shanghai Cooperation Organisation or SCO as dialogue partner in May 2023. The UAE also joined the BRICS forum as a member on January 1 with India’s support.

In 2023, the India-UAE-France (UFI) trilateral was also formally launched.

The UAE is the fifth-largest supplier of crude oil to India, accounting for around 8% of India’s total crude imports. It also ranks first among destinations for India’s exports in the West Asia region.

As a significant player in the Organisation of Islamic Cooperation or OIC grouping, the UAE’s support is crucial for India in navigating regional challenges, particularly concerning its relations with Pakistan.

The Crown Prince, Sheikh Khaled’s visit underscores the UAE’s commitment to deepening economic and strategic ties with India. It marks the beginning of a new chapter in India-UAE relations, characterised by collaboration and opportunity.

RECENT VISIT, STRENGTHENING TIES

In February this year, PM Modi went for an official visit to the UAE, where he held discussions with UAE President Sheikh Mohamed bin Zayed Al Nahyan on the India-UAE bilateral relationship and witnessed the exchange of eight agreements.

Sheikh Mohamed bin Zayed Al Nahyan, 63, is the father of the Crown Prince Sheikh Khaled Mohamed bin Zayed Al Nahyan, 42, who is visiting India this week.

PM Modi and President Al Nahyan welcomed the MoU for creation of an inter-governmental framework between India and the UAE on the India-Middle East-Europe Economic Corridor, also called IMEEC, which reflected the lead taken by the UAE and India in furthering regional connectivity.

The two leaders further 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)

During his visit, PM Modi inaugurated the majestic Bochasanwasi Akshar Purushottam Swaminarayan Sanstha (BAPS) Mandir, the first Hindu temple in Abu Dhabi, UAE.

The temple is located in Abu Dhabi’s Abu Mureikhah district. The grand temple, built on a 27-acre campus, the land for which, was gifted by the UAE government.

He also addressed the Indian community at an event titled ‘Ahlan Modi’, which was attended by over 65,000 people.
 

New Delhi:

India and the United Arab Emirates (UAE) aim to deepen ties and enhance their Comprehensive Strategic Partnership as the Crown Prince of Abu Dhabi, Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, arrives in India on an official visit on September 9-10.

Abu Dhabi’s Crown Prince is visiting India at the invitation of Prime Minister Narendra Modi. This would be his first visit to New Delhi as the Crown Prince.

He is being accompanied by top ministers from the UAE as well as a business delegation, the Ministry of External Affairs has said.

The Crown Prince of Abu Dhabi – the next King – will meet PM Narendra Modi on Monday. It is the first time India is officially engaging with the next generation of royalty and government from the UAE, highlighting the importance India gives to its ties with the UAE.

Apart from his meeting with PM Modi, the Crown Prince will also call on President Droupadi Murmu.

THE CROWN PRINCE’S SCHEDULE

On September 9, the Crown Prince’s day will begin with a visit to Rajghat to pay tribute to Mahatma Gandhi.

Later in the day, the Crown Prince will meet Prime Minister Narendra Modi and the two leaders would hold discussions on a wide range of areas concerning bilateral cooperation. This would likely be followed by a joint press conference where several agreements or MoUs will be exchanged.

Besides bilateral issues, the two leaders are also expected to have a detailed discussion on the overall situation arising out of the Israel-Hamas conflict.

The Crown Prince will also call on President Droupadi Murmu at the Rastrapati Bhavan.

On September 10, the Crown Prince will visit Mumbai to participate in a Business Forum, in which top business leaders from both countries will participate.

INDIA-UAE PARTNERSHIP

Since the landmark visit by PM Modi to UAE in August 2015, the first by an Indian Prime Minister in 34 years, bilateral relations between the two countries have elevated to a Comprehensive Strategic Partnership.

Both countries signed a Comprehensive Economic Partnership Agreement or CEPA in February 2022 and a Local Currency Settlement (LCS) System in July 2023 to promote the use of Indian Rupee and AED (United Arab Emirates Dirham) for cross-border transactions.

India is the UAE’s second-largest trading partner, while the UAE is India’s largest trading partner in the Arab world. Total trade between India and the UAE is projected to reach USD 100 billion by the end of the decade. The bilateral trade between the two countries in 2022-23 was about USD 85 billion, according to official data.

The UAE is also among the top four investors in India in terms of Foreign Direct Investments or FDI in 2022-23.

“India and UAE share historically close and friendly ties. In recent years, the Comprehensive Strategic Partnership between India and UAE has deepened in a wide range of areas, including political, trade, investment, connectivity, energy, technology, education, and culture,” the MEA said.

“The Crown Prince’s visit will further reinforce strong India-UAE bilateral relations and open avenues for partnership in new and emerging areas,” it added.

The Indian community, which numbers over 3.5 million, plays an essential role in the UAE. Their contributions to the economy and cultural landscape of the UAE underscores the deep connections between the nations.

UAE was a special invitee for the G20 Summit in New Delhi during India’s Presidency.

With India’s active support, the UAE also joined the Shanghai Cooperation Organisation or SCO as dialogue partner in May 2023. The UAE also joined the BRICS forum as a member on January 1 with India’s support.

In 2023, the India-UAE-France (UFI) trilateral was also formally launched.

UAE is the fifth-largest supplier of crude oil to India, accounting for around 8% of India’s total crude imports. It also ranks first among destinations for India’s exports in the West Asia region.

As a significant player in the Organisation of Islamic Cooperation or OIC grouping, the UAE’s support is crucial for India in navigating regional challenges, particularly concerning its relations with Pakistan.

The Crown Prince, Sheikh Khaled’s visit underscores the UAE’s commitment to deepening economic and strategic ties with India. It marks the beginning of a new chapter in India-UAE relations, characterised by collaboration and opportunity.

RECENT VISIT, STRENGTHENING TIES

In February this year, PM Modi went for an official visit to the UAE, where he held discussions with UAE President Sheikh Mohamed bin Zayed Al Nahyan on the India-UAE bilateral relationship and witnessed the exchange of eight agreements.

Sheikh Mohamed bin Zayed Al Nahyan, 63, is the father of the Crown Prince Sheikh Khaled Mohamed bin Zayed Al Nahyan, 42, who is visiting India this week.

PM Modi and President Al Nahyan welcomed the MoU for creation of an inter-governmental framework between India and the UAE on the India-Middle East-Europe Economic Corridor, also called IMEEC, which reflected the lead taken by the UAE and India in furthering regional connectivity.

The two leaders further 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)

During his visit, PM Modi inaugurated the majestic Bochasanwasi Akshar Purushottam Swaminarayan Sanstha (BAPS) Mandir, the first Hindu temple in Abu Dhabi, UAE.

The temple is located in Abu Dhabi’s Abu Mureikhah district. The grand temple, built on a 27-acre campus, the land for which, was gifted by the UAE government.

He also addressed the Indian community at an event titled ‘Ahlan Modi’, which was attended by over 65,000 people.
 

Feryal Ahmadi, the Chief Operating Officer of the Dubai Multi-Commodities Centre (DMCC). Photo: Dubai Multi-Commodities Centre/dmcc.ae

The United Arab Emirates is looking to expand the scope of trade and services covered under the Comprehensive Economic Partnership Agreement (CEPA) with India to further accelerate bilateral trading volume, a senior UAE official said on May 30.

India and the UAE signed the historic CEPA on February 18, 2022, to further boost bilateral trade and economic ties.

Feryal Ahmadi, the Chief Operating Officer of the Dubai Multi-Commodities Centre (DMCC), said that the UAE is looking at agri-commodity potential and working on adding other sectors including critical minerals under the CEPA.

The United Arab Emirates is looking to expand the scope of trade and services covered under the Comprehensive Economic Partnership Agreement (CEPA) with India to further accelerate bilateral trading volume, she said.

Emphasising the importance of India as the largest trading partner for the Emirates, she said, “We are absolutely looking at agri-commodity potential and working on adding other sectors including critical minerals under CEPA.” Ms. Ahmadi also underlined the growing importance of other Free Trade Agreements and trade corridors, including the potential of the India-Middle East-Europe Economic Corridor.

She sees more and more countries working on bilateral free trade agreements and regionalization of trading among countries.

She presented a DMCC report, “The Future of Trade”, in Singapore today, in which the UAE-India CEPA trade growth was highlighted.

“These have undeniable trade benefits, reducing tariff and trade barriers while increasing inter-regional market access.” As a case in point, countries in the Gulf Cooperation Council such as the UAE have expanded bilateral ties, particularly with Asian nations —India, Indonesia, Israel, Turkey and Cambodia.

Currently, there are 26 FTAs in progress, according to the report.

Countries like the UAE and ASEAN member states are poised to benefit from their geopolitical neutrality and diverse trade relationships, said the report.

“Governments should foster partnerships and trade agreements with these powers to facilitate increased trade flows and investment opportunities,” the report suggested.

“By leveraging their strategic geographic locations and trade-friendly policies, they can serve as key hubs for regional trade and economic integration,” the report stated.

On regionalisation, the report sees new centres of gravity forming in Asia — around ASEAN, China and India — as well as North America.

“This is bolstered by relatively new multilateral agreements with commitments to reduce tariffs, create a common market and boost regional trade,” said the report.