ABU DUBAI(Correspondent LP)- India’s Prime Minister Narendra Modi arrived in Abu Dhabi on Saturday, commencing his official visit to the United Arab Emirates. The Crown Prince of Abu Dhabi, Sheikh Khaled bin Mohamed bin Zayed Al-Nahyan, extended a gracious welcome to Modi and his accompanying delegation.
During their meeting, the leaders engaged in a cordial discussion about the deep-rooted historical connections between their nations and their people. They also lauded the robust level of joint strategic cooperation that spans various critical sectors between India and the UAE. The state news agency WAM reported on the fruitful exchange, underscoring the significance of the visit in strengthening bilateral ties and fostering mutual prosperity.
India and UAE to boost trade with settlement in local currencies
During his meeting with UAE President Sheikh Mohamed bin Zayed Al Nahyan in Abu Dhabi,Indian Prime Minister Narendra Modi announced a significant move to strengthen bilateral trade and investments between India and the United Arab Emirates. The two countries have agreed to commence trade settlement in their respective local currencies, a measure aimed at enhancing economic ties.
Indian PM Modi expressed his hope for bilateral trade to surpass the $100 billion mark soon, considering that it currently stands at $85 billion. The comprehensive strategic partnership between India and the UAE has been steadily evolving, and the Prime Minister’s visit presented an opportunity to explore avenues for further collaboration in various sectors such as energy, education, healthcare, food security, fintech, defense, and culture, according to the Ministry of External Affairs (MEA).
Beyond bilateral matters, the visit also provided a platform to discuss cooperation on global issues, particularly in the context of the UAE’s Presidency of COP-28 and India’s G-20 Presidency, with the UAE holding a special invitee status.
Modi’s visit to the UAE came after his bilateral discussions with French President Emmanuel Macron in France, where the two nations formulated a roadmap for their ties based on three pillars: partnership for security and sovereignty, partnership for the planet, and partnership for the people.
