If you think you are immune, you are going to be negligent and you are going to be hit.
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If there was a paradigm shift in India-UAE ties after Prime Minister Narendra Modi’s visit to the Emirates in August past year, the two sides are undoubtedly hopeful that the visit of Sheikh Mohammed bin Zayed Al Nahyan, the crown prince of Abu Dhabi and deputy supreme commander of the armed forces of the UAE this week will propel economic and geostrategic ties to a more elevated level.
UAE Ambassador Ahmed Al Banna said his country “supports” the latest initiatives by the two countries including Prime Minister Narendra Modi’s Lahore outreach and the meeting of the National Security Advisers of India and Pakistan in Bangkok.
The visit by the Crown Prince is also expected to lead to the signing of an MoU on nuclear cooperation between India and the UAE.
On a query regarding investment in India by Abu Dhabi Investment Authority, the envoy said things are moving fast and that many other private investors from the UAE are also looking at investing in India in a significant way. Our well-balanced bilateral trade amounted to S$ 59 billion in 2014-15, making UAE our third largest trading partner. UAE, a major player in the Gulf region, is a strategically important country for India.
Describing India-UAE ties as “fantastic”, the minister said that Modi’s visit could see a “window of strategic shift” in the relationship.
“We need greater cooperation”. The UAE already has nuclear cooperation pacts with France and South Korea.
AIR correspondent reports that during the visit the two countries agreed to elevate the relationship to a comprehensive strategic partnership.
On the $75 billion investment fund aimed at boosting infrastructure in India, Albanna said discussions on the creation of the fund had been held between UAE and Indian officials last week. India has been eying the fund, parked with the Abu Dhabi Investment Authority, for its infrastructure sector. The pacts which the two governments are hoping to sign in areas as diverse as aerospace, railways and oil are expected to result in investments worth billions of dollars into India.
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Al Banna also said UAE seeks to conclude the ongoing talks on the India-Gulf Cooperation Council (GCC) Free Trade Agreement (FTA).
