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Abu Dhabi:
India and the UAE reaffirmed their commitment to the ambitious target of $100 billion in bilateral trade over the next five years, as Foreign Minister S Jaishankar co-chaired a “very productive” meeting of the joint committee of the two countries to assess the “Significant progress” in this area of ​​cooperation.
Mr Jaishankar, who was here on a three-day visit, co-chaired the 14th India-UAE Joint Committee Meeting (JCM) in Abu Dhabi on Thursday with his Emirati counterpart Sheikh Abdulla bin Zayed Al Nahyan.
During the meeting, the two ministers expressed their deep satisfaction with the continued high growth trajectory of India-UAE bilateral relations, the Ministry of Foreign Affairs said in a statement.
“The 14th India-UAE Joint Committee meeting was very productive. Thanks to His Excellency Sheikh Abdullah bin Zayed Al Nahyan for co-chairing the meeting. Significant achievements in various areas of cooperation were assessed Progress. The shared vision of our leadership is being implemented rapidly,” Mr Jaishankar tweeted after the meeting.
The two leaders noted the regular high-level political interactions between the two sides, in particular Prime Minister Narendra Modi and UAE President Sheikh Mohamed bin Zayed Al Nahyan on 28 June 2022 The meeting in Abu Dhabi, the virtual summit on 18 February 2022 and their participation in the virtual I2U2 (India, Israel, UAE and US) summit in July 2022.
They also noted the cooperation between the two countries in various multilateral forums and international organizations, especially in the UN Security Council in 2022.
The two ministers expressed their delight at the entry into force of the landmark Comprehensive Economic Partnership Agreement (CEPA) on 1 May 2022 and the various events and activities organized to effectively implement the agreement.
The two sides reaffirmed their commitment to the goal of achieving a bilateral trade volume of US$100 billion within the next five years. They also positively assessed the investment partnership between the two countries and the growth of UAE investments in various sectors in India.
The next meeting of the high-level working group of the two countries is expected to be held in India in the near future.
The progress of the various elements of bilateral cooperation identified in the vision statement adopted by the leaders of the two countries (Modi and Sheikh Mohammed) on 18 February 2022 was also reviewed.
Both ministers noted their commitment to further strengthen their long-term energy partnership, including two-way investment. They also noted progress in discussions on various aspects of renewable energy and green hydrogen.
The two ministers reviewed ongoing discussions between the two sides in the area of ​​food security, including the I2U2 framework.
The statement said they were pleased with the progress made in medical and educational cooperation.
It said 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.
Discussions on the establishment of an IIT in the UAE have also progressed with the establishment of a joint working group between the two agencies.
Both ministers stressed the importance of promoting start-ups and entrepreneurship in different sectors such as fintech, edtech, healthtech, agtech, logistics and supply chain.
They point to the possibility of connecting to instant payment platforms in any country, such as through the United Payments Interface (UPI) in India.
The UAE Minister of Foreign Affairs appreciated the contribution of the Indian community to the progress and development of the country, while Mr Jashankar thanked him and the entire UAE leaders for their care of the Indian community.
The two sides agreed to hold various institutional dialogues in the coming months on consular issues, skills and manpower.
The two sides signed two memorandums of understanding in the presence of the minister.
These include a Memorandum of Understanding between the Wildlife Research Institute of India and the International Foundation for the Conservation of the Great Indian Bustard and the Lesser Bustard, and a Memorandum of Understanding between the UAE Ministry of Foreign Affairs and International Cooperation and the Cultural Council of India on the establishment of the India-UAE Cultural Council Forum relationship (ICCR).
The two ministers were joined by UAE Minister of Foreign Trade Sani bin Ahmed Al Zeyoudi, Indian Foreign Minister Vinay Kwatra and ambassadors and senior officials from both sides.
(Apart from the title, this story was unedited by NDTV staff and was posted from a syndicated feed.)
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