India, UAE take forward strategic ties

UAE Foreign Minister Sheikh Abdullah bin Zayed Al Nahyan is on a two-day official visit to New Delhi, reports Asian Lite Newsdesk

India and UAE will take forward their Comprehensive Strategic Partnership, said External Affairs Minister S. Jaishankar on Tuesday as he met UAE Foreign Minister Sheikh Abdullah bin Zayed Al Nahyan in the national capital.

“Always a pleasure to welcome HH Sheikh @ABZayed of UAE in India. Our 4th structured meeting this year. Will take forward our Comprehensive Strategic Partnership,” Jaishankar tweeted.

UAE Foreign Minister bin Zayed Al Nahyan is on an official visit to India. He is accompanied by a high-level delegation.

According to MEA, the visit is part of regular consultations between the two countries on bilateral as well as global issues of mutual interest.

Prime Minister Narendra Modi had visited the UAE on June 28, 2022 during which he met President Sheikh Mohammed bin Zayed Al Nahyan.

Earlier, the External Affairs Minister visited UAE to co-chair the 14th Joint Commission Meeting and the 3rd Strategic Dialogue with UAE Foreign Minister Sheikh Abdullah bin Zayed.

Jaishankar and his UAE counterpart reviewed the gamut of bilateral strategic partnerships between the two nations.

They also held discussions with the UAE Foreign Minister Abdullah bin Zayed Al Nahyan on the current global situation.

FICCI, DIFC launches India –UAE Start-Up Corridor

Talks on allowing trade in rupee

After Russia, India is in talks with the UAE and Saudi Arabia to allow settlement of trade in the Indian rupee, the New Indian Express reported, citing sources.

The Reserve Bank of India and the finance ministry are working on the framework to permit trade in the Indian currency, it was reported.

Combating terror financing

Last week, the UAE, represented by the Ministry of Interior, participated in the ‘No Money for Terror’ Ministerial Conference on Counter-Terrorism Financing held in the Indian capital, New Delhi, with the aim of mobilising efforts to combat terrorism and eliminate its financing.

The UAE delegation was headed by Maj. General Khalifa Hareb Al Khaili, Undersecretary of the Ministry of Interior, and included Brigadier Abdul Aziz Al Ahmad, Deputy Director General of the Federal Criminal Police, and a number of representatives of the concerned authorities.

The opening of the conference was attended by Indian Prime Minister Narendra Modi; Home Minister Amit Shah; numerous country delegates; and representatives of a number of law enforcement organisations and specialised bodies, such as the International Criminal Police Organisation (INTERPOL), United Nations Office of Counter-Terrorism (UNOCT), the European Union Agency for Law Enforcement Cooperation (Europol), the Financial Action Task Force (FATF), and regional and international organizations, including the Gulf Cooperation Council (GCC), the South Asian Association for Regional Cooperation (SAARC), and the International Monetary Fund (IMF).

Sharjah-India Investment ties

Last week, the Sharjah FDI Office (Invest in Sharjah), in collaboration with the Consulate General of India, Dubai, organised a Sharjah–India Business Roundtable at the House of Wisdom, to explore greater economic ties and synergies between Sharjah and India and expand commercial, industrial and investment cooperation in several high-priority sectors

In line with India’s continued interest in the emirate’s diversified economy and following the game changing UAE-India Comprehensive Economic Partnership Agreement (CEPA) signed in February 2022, the roundtable sought to promote investment opportunities in competitive sectors and highlighted the range of services and facilities offered by various government organizations in the emirate.

With 15,868 Indian companies operating in the mainland in Sharjah and 10,000 across its specialised free zones, the growing economic and commercial relations between Sharjah and India saw the value of exports and re-exports from India rise to AED 1.14 billion in 2021.

Building on the stability and strength of a rapidly diversifying and deepening bilateral relationship between the emirate and India, the roundtable placed a special focus on areas in which Indian companies could engage with Sharjah to grow their presence in the MENA region.

The priority sectors highlighted include agriculture and food security, technology and innovation, logistics, tourism and culture, water resource management, energy and renewable energy, and education.

More than 200 trade professionals from the UAE and India including entrepreneurs, investors, Sharjah government officials and business stakeholders attended the Sharjah–India Business Roundtable which also emphasised how the flexible business environment, ease of doing business and diversification away from oil have solidified the emirate’s position as a key investment hub in the region.

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