https://arab.news/5eenn
- Modi, Sheikh Khaled agree to broaden CEPA to new, emerging areas
- Abu Dhabi crown prince will attend a business forum in Mumbai on Tuesday
NEW DELHI: India and the UAE signed new agreements and discussed ways to develop new areas of cooperation on Monday, as Prime Minister Narendra Modi hosted Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed in New Delhi.
Sheikh Khaled was on his first official visit to India, leading a delegation of ministers and business leaders.
“The two leaders discussed the multifaceted India-UAE relations and avenues to broaden the comprehensive strategic partnership to new and emerging areas,” Randhir Jaiswal, spokesperson of India’s Ministry of External Affairs, said in a statement.
India and the UAE signed the Comprehensive Economic Partnership Agreement in 2022, which has become a template for similar trade pacts the UAE has since signed with other nations.
The pact reduced tariffs on about 80 percent of all goods and provided zero-duty access to 90 percent of Indian exports and has since significantly advanced bilateral exchanges.
As part of Sheikh Khaled’s visit, the two countries signed a number of agreements within their CEPA, including a memorandum of understanding in nuclear energy cooperation.
The Abu Dhabi National Oil Co. also agreed to a 15-year deal to supply Indian Oil, while UAE investment and holding company ADQ entered a preliminary agreement to develop a major food and agriculture park with the Gujarat government.
“These agreements and partnerships encompass a range of priority areas of mutual interest in both the public and private sectors, ensuring the continued achievement of comprehensive economic cooperation aspirations between the two friendly nations,” the Emirates News Agency reported.
On Tuesday, Sheikh Khaled will lead his delegation to attend an India-UAE business forum in Mumbai, which will be focused on exploring potential cooperation in emerging fields, including biotechnology, artificial intelligence and agricultural technology.