Several agreements and Memoranda of Understanding including Bilateral Investment Treaty
AMN / WEB DESK
Prime Minister Narendra Modi today held a fruitful discussions with UAE President Sheikh Mohamed bin Zayed Al Nahyan, encompassing a wide array of topics aimed at enhancing cooperation and partnership. Talks ranged from reviewing the existing bilateral partnership to exploring new avenues of collaboration across various sectors including trade and investment, digital infrastructure, fintech, energy, infrastructure, culture, and people-to-people ties.
Both leaders expressed their commitment to further strengthening the Comprehensive Strategic Partnership between the two countries.
A series of agreements and memoranda of understanding (MoUs) were exchanged to cement the foundation of cooperation between India and the UAE. These included agreements on Bilateral Investment, Electrical Interconnection and Trade, the India-Middle East Economic Corridor, Digital Infrastructure Projects, cooperation between National Archives, heritage and museums, interlinking of payment platforms, and interlinking of domestic debit/credit cards. These agreements aim to facilitate seamless collaboration in various domains and foster greater connectivity between the two nations.
Prime Minister Modi extended his congratulations to President Sheikh Mohamed bin Zayed Al Nahyan on the launch of UAE’s domestic card, JAYWAN, which is based on the digital RuPay credit and debit card stack. The leaders witnessed a transaction made using the JAYWAN card, underscoring the progress in financial sector cooperation between India and the UAE.
Energy partnership also featured prominently in the discussions, with both leaders acknowledging the UAE’s significant role as a supplier of crude, LPG, and now LNG to India. Long-term contracts for LNG were highlighted as a testament to the growing energy partnership between the two countries.
Prior to the visit, agreements were signed between RITES Limited and Abu Dhabi Ports Company, as well as the Gujarat Maritime Board with Abu Dhabi Ports Company, aimed at bolstering port infrastructure and enhancing connectivity between India and the UAE. Expressing gratitude, Prime Minister Modi thanked President Sheikh Mohamed bin Zayed Al Nahyan for his personal support and generosity in granting land for the construction of the BAPS Temple in Abu Dhabi. Both leaders emphasized the significance of the temple as a symbol of the deep-rooted cultural ties and friendship between the UAE and India, reflecting the UAE’s commitment to harmony, tolerance, and peaceful coexistence on the global stage. The visit of Prime Minister Narendra Modi underscores the importance both countries attach to strengthening their strategic partnership and exploring new avenues for cooperation, heralding a new chapter in the bilateral relations between India and the UAE.