Abdullah and Jaishankar praise growth of bilateral economic ties
- 13 Dec 2024
Sheikh Abdullah Bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Foreign Affairs, and Subrahmanyam Jaishankar, Minister of External Affairs of India, co-chaired the 15th India-UAE Joint Commission Meeting held on Friday in New Delhi.
The convening of the Joint Commission emphasises the long-standing historical and strategic ties binding the two countries and their peoples across various fields.
In his speech, Sheikh Abdullah highlighted the significant progress in UAE-India relations over the years. He underscored the important role of bilateral platforms, including the Joint Commission, in strengthening their unique historical partnership and enhancing cooperation across all areas of benefit to the two friendly nations.
Dr. Jaishankar drew attention to India’s commitment to advancing innovation and driving economic growth in partnership with the UAE.
He emphasised the shared vision that develops the two countries’ collaboration and propels their partnership toward greater horizons.
The agenda of the meeting reviewed the achievements stemming from the Comprehensive Economic Partnership Agreement (CEPA), which has significantly boosted trade between the two countries, reaching approximately US$84 billion in the past year.
Discussions also included outcomes from the Joint Commission’s October 2024 meeting, which addressed implementation matters such as goods, rules of origin, technical barriers to trade, sanitary and phytosanitary standards, and services trade.
They also commended the ratification of the UAE-India Bilateral Investment Treaty (New India-UAE BIT), a pivotal step in establishing a robust legal framework that ensures comprehensive protection and promotes mutual investments.
Noteworthy investments were also highlighted, including the Abu Dhabi Investment Authority’s decision to establish a subsidiary in Gujarat International Financial Tec-City, reflecting the UAE’s strong confidence in India’s sustainable economic growth.
The two sides also explored prospects for cooperation in various spheres, including integrating national digital payment systems, developing the UAE-India food corridor, and expanding cooperation in areas of science, research, education, nuclear energy, space, and critical minerals.
At the end of the meeting, Sheikh Abdullah and Dr. Jaishankar signed the minutes of the commission meeting.
The UAE delegation included Abdullah Bin Touq Al Marri, Minister of Economy; Reem Bint Ebrahim Al Hashimy, Minister of State for International Cooperation; Ahmed Ali Al Sayegh, Minister of State; Khaled Mohamed Balama, Governor of the Central Bank of the United Arab Emirates; Lana Zaki Nusseibeh, Assistant Minister of Foreign Affairs for Political Affairs; Saeed Mubarak Al Hajeri, Assistant Minister for Economic and Trade Affairs; Omran Sharaf, Assistant Minister of Foreign Affairs for Advanced Science and Technology; Abdulla Balalaa, Assistant Minister for Energy and Sustainable Affairs; Dr. Maha Barakat, Assistant Minister of Medical Affairs and Life Sciences; Dr Abdulnasser Jamal Alshaali, Ambassador of the UAE to the Republic of India.
Following the meeting, Sheikh Abdullah and Dr. Jaishankar witnessed the exchange of a Memorandum of Understanding (MoU) on polar research cooperation.
The MoU was exchanged by Abdulla Balalaa, Assistant Minister for Energy and Sustainable Affairs and Deputy Chair of the UAE Polar Mission Steering Committee, and Dr Ravichandran, Secretary, Ministry of Earth Sciences.
Earlier, Sheikh Abdullah Bin Zayed met on Thursday with Narendra Modi, Prime Minister of the Republic of India, at the start of the UAE top diplomat’s official visit to New Delhi to participate in the India-UAE Joint Commission Meeting, and the Fourth UAE-India Strategic Dialogue.
Sheikh Abdullah conveyed to the Indian Prime Minister the greetings of President His Highness Sheikh Mohamed Bin Zayed Al Nahyan, His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai, and His Highness Sheikh Mansour Bin Zayed Al Nahyan, Vice President, Deputy Prime Minister, and Chairman of the Presidential Court, along with their best wishes for India’s continued prosperity and progress.
Prime Minister Modi reciprocated the greetings, expressing his best wishes for the UAE’s continued growth and success. Sheikh Abdullah expressed pride in the strong, growing historical relations between the UAE and India. Over more than 50 years, the two nations have established a unique model of privileged relations built on a solid foundation of trust, mutual respect, and shared interests, Sheikh Abdullah said.
“This partnership has evolved into a comprehensive collaboration that contributes to sustainable development and prosperity for both nations’ peoples.”
He highlighted the importance of the India-UAE Joint Commission Meeting and the Fourth UAE-India Strategic Dialogue, stressing on the two countries’ commitment to further strengthening their strategic partnership and supporting their developmental priorities.
