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UAE, India discuss economic relations   

Gulf Today - 12 January, 2017

Dr. Rashid Ahmed Bin Fahad, UAE Minister of State, has discussed ways to enhance economic ties, expand areas of cooperation and raise bilateral trade and investments with Narendra Modi, the Indian Prime Minister, during a meeting held on the sidelines of the visit of a high-level delegation from the UAE to India headed by Dr. Bin Fahad. The delegation is participating in the 8th Vibrant Gujarat Global Summit running from January 10th to 13th in Gandhinagar, the capital of Gujarat state in India.

The delegation is accompanied by Abdullah bin Ahmed Al Saleh, Under-Secretary of the Ministry of Economy for Foreign Trade and Industry, Dr. Ahmed Al Banna, UAE Ambassador to India, and a number of senior officials.

The meeting addressed ways to enhance and strengthen economic and investment partnerships in areas of common interest, most notably infrastructure, energy, and tourism.

Dr. Bin Fahad began the session by extending the greetings and best wishes of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai, and His Highness Sheikh Mohamed Bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, to the Republic of India. The leaders expressed their desire for progress and prosperity for the people of India. The Indian Prime Minister complemented His Highnesses and wished further development and prosperity for the United Arab Emirates and its peoples.

Prime Minister Modi commended the UAE’s participation in the ongoing summit of Gujarat as well as the upcoming Partnership Summit slated for the end of this month in India.

He emphasised the distinguished historic bilateral relations binding the UAE and the Republic of India and their mutual desire to enhance cooperation, particularly on the economic and trade fronts. He noted their shared goal of achieving further progress and expansion in bilateral trade in the coming year, voicing his hope of attaining high levels of partnership reflecting the capacities and capabilities enjoyed by the two sides.

The Prime Minister also pointed out his country’s interest in enhancing UAE investments in Indian markets, especially in development projects involving infrastructure, logistics services, airports, and ports. He said that UAE companies have been highly successful and efficient in its international experiences in these fields. He added that renewable energy and tourism are of high priority for the Indian Government.

Dr. Bin Fahad underscored the UAE’s commitment to elevating economic and trade ties with India and further exploring broader cooperation in several sectors of common interest which serve the development goals of their countries.

Bin Fahad continued by saying that India is one of the most attractive markets for UAE investments due to its high growth rate. He noted that the infrastructure, energy and tourism sectors are a high priority for the UAE under its development vision and offer many opportunities for enhanced mutual investments in the near future.
 
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