(New Delhi) – United Arab Emirates is keen to increase its energy exports, as well as downstream investments in India, UAE Foreign Minister H.H. Sheikh Abdullah bin Zayed Al Nahyan told reporters during a joint press conference with Indian Minister of External Affairs S. M. Krishna.
He added, “We would like to see more UAE energy exports to India especially when it comes to crude oil. There are talks between our officials looking at these avenues and even further. We would like to see UAE presence in downstream investments in India, including petrochemicals”.
Before press conference, Sheikh Abdullah and Krishna held wide-range of discussions on international, regional and bilateral issues including ways to boost trade ties, maritime security cooperation to tackle piracy and Indo-Pak ties.
Sheikh Abdullah also said that he was “pleased” to see the developing “vibrant” ties between India and Pakistan. The two sides also discussed forthcoming 3rd India-Arab Economic Conclave to be hosted in Abu Dhabi on 21-22 May and the proposed ‘Road Show’ on investment in Abu Dhabi and Dubai that Indian officials intend to undertake in June to exchange information and clarify issues related to the investment climate in India. Also discussed were ways to increase cooperation to fight the “scourge” of piracy.
Underlining the country’s need to increase its oil imports, Krishna said, “The need to increase import of oil and other energy sources is of extreme critical importance and in UAE we have a dependable supplier which India needs so badly.”
