India and United Arab Emirates (UAE) Relations
India and the United Arab Emirates (UAE) have resolved to strengthen the strategic partnership.
The two countries reviewed the progress in the ‘Joint Vision Statement’ (JVS) during the visit of the Prime Minister of India to the United Arab Emirates.
Be aware that JVS was released during the Virtual Summit (February 2022).
JVS has strengthened the Comprehensive Strategic Partnership between the two countries. At the same time, it has also prepared a road map to enhance cooperation with special focus on defence, security, trade and investment.
India-UAE Relations:
- Business: The India-UAE Comprehensive Economic Partnership Agreement (CEPA) was signed during the virtual summit. This agreement has officially become effective from 1 May CEPA is expected to increase bilateral commodity trade to a total of US$ 100 billion within five years. Similarly, the bilateral services trade is expected to exceed US$ 15 billion. It will help Indian exporters to get access to West Asian countries, Africa etc through UAE.
- Defense and Security: Maritime cooperation is being promoted to maintain peace and security in the region through regular military exercises like Desert Eagle. The two countries have jointly committed to combating all forms of terrorism, including extremism and cross-border terrorism.
- Public Relations: The UAE has the largest number of Indian expatriates (5 million). These contribute in the form of higher remittances to India (US$ 17.06 billion in 2019).
- Space Cooperation: Indian Space Research Organization (ISRO) launched UAE’s first nano-satellite Nayif-1.
Source – The Hindu
