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From 31 August to 2 September 2022, Union Minister Dr Subrahmanyam Jaishankar, Minister of Foreign Affairs (EAM) visit the United Arab Emirates (UAE) for the 14th India-UAE Joint Committee Meeting (JCM) and the 3rd India-UAE UAE Strategic Dialogue.
About the meeting:
The Union Minister of India co-chaired two meetings with the UAE Foreign Minister, Sheikh Abdullah bin Zayed aluminum NahyanThe two leaders reviewed the comprehensive strategic partnership between India and the UAE and the entire scope of regional and global development.
Key Highlights of the 14th India-UAE JCM
A generation.The two countries reaffirmed their commitment to achieve the goal of US$100 billion in bilateral trade in the next five years.
ii.They also point to the possibility of connecting to instant payment platforms, such as through a joint payment interface in India.
iii.The meeting also signed the following agreements two memorandums of understanding (Memorandum of Understanding)
- Both parties signed a memorandum of understanding Indian Wildlife Research Institute (WII) and the Pobara Conservation Fund for the Protection of the Great Indian Bustard and the Lesser Florikan Bustard.
- UAE Ministry of Foreign Affairs and International Cooperation signs another MoU with India Cultural Relations Committee (ICCR) Regarding the establishment of the Indo-UAE Cultural Council Forum.
iv.The two sides stressed the importance of promoting start-ups and entrepreneurship in different sectors such as fintech, edtech, healthtech, agtech, logistics and supply chain.
- Notably, a team of government and private sector representatives from India and the UAE recently visited Kenya and Tanzania to identify opportunities for joint projects in the health sector.
five.They reviewed ongoing discussions between the two parties in the area of food security, including the I2U2 framework.
- I2U2 is made up of four countries – India, Israel, UAE and the United States (US).
S Jaishankar visits the ruins of India’s first Hindu temple Arab phosphorusisland
The Indian minister also visited the “Shri Swaminarayan Mandir”, a Hindu temple under construction in Abu Dhabi, UAE. It was the first traditional temple in the Arabian Peninsula.
- Bochasanwasi Akshar Purushottam Swaminarayan Sanstha (BAPS) Swaminarayan Sanstha, a global not-for-profit Hindu organization, is building the temple, which the Crown Prince of Abu Dhabi provided to Narendra Modi after his first visit to the UAE as Prime Minister Land (PM) India in 2015.
EAM also met with Sheikh Nahyan bin Mabarak Al Nahyan, UAE Minister of Tolerance and Coexistence, and appreciated his cultural efforts and his support for the Indian diaspora in the UAE.
India-UAE relation:
A generation.India-UAE The bilateral trade volume in FY22 was about US$72 billion.
ii.The UAE is India’s third largest trading partner and second largest export destination.
iii.UAE FDI in India currently exceeds $12 billion.
iv.The Indian diaspora community is the largest ethnic community in the UAE, making up about 35% of the country’s population.
five.The UAE is India’s third-largest export destination (after the US and China), with exports worth nearly $16 billion in 2020-21.
six.For the UAE, India is the third largest trading partner in 2020, with a trade value of approximately $27.93 billion (non-oil trade).
Recent related news:
A generation.The Asian Infrastructure Investment Bank (AIIB) has approved the establishment of a temporary operations center in Abu Dhabi, UAE, its first overseas office in Abu Dhabi, UAE.
ii.AD Ports Group, headquartered in Abu Dhabi, United Arab Emirates (UAE), and Adani Ports and Special Economic Zone (SEZ) Limited have signed a Memorandum of Understanding (MoU) to jointly invest in an end-to-end logistics infrastructure in Tanzania.
About the United Arab Emirates (UAE):
capital– Abu Dhabi
currency– Dirham
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