(Abu Dhabi) – In a statement from H.H. Sheikh Abdullah bin Zayed Al Nahyan, Foreign Minister, commenting on the historical visit of the Indian Prime Minister Narendra Modi to the country said that the UAE has placed India at the forefront of its international partnerships and recognises the importance of broadening a comprehensive mutual dialogue, adding that the UAE and India have a robust economic relationship, which is underpinned and sustained by various bilateral agreements that have been signed over the years.
The foreign minister also recognised India’s contribution to UAE development, saying that the UAE, “Deeply values the important contributions that the large Indian community living and working in the UAE has made to its economy and society.”
The full statement is as follows: “Prime Minister Narendra Modi’s visit to the UAE this week comes at a time when relations between the UAE and India have never been warmer. The prime minister’s visit is of strategic significance in our bilateral relations and follows on the heels of growing diplomatic, economic, energy and defence cooperation between our two countries.
Building on our millennia-old history of cooperation and exchanges – and with a current trade balance of around 60 billion dollars – the UAE and India have a robust economic relationship, which is underpinned and sustained by various bilateral agreements we have signed over the last years, including a Double Taxation Avoidance Agreement and a Bilateral Protection of Investments Agreement.
For the UAE, India is its second largest trading partner. The UAE is India’s third largest trading partner. UAE companies have a long history and considerable experience in working in India. Emaar, DP World, Abu Dhabi’s National Petroleum Construction Company, Abu Dhabi National Energy Company, Abu Dhabi Investment Authority, among others, have operations in India. Similarly, around 45,000 Indian companies operate successfully in the UAE.
(Courtesy WAM)
