India-UAE trade in key sectors to get 16 deals boost

New Delhi - A major focus of the three-day visit by Shaikh Mohammed bin Zayed, which comes around six months after Modi's trip to UAE, will be on stepping up economic ties.

At least 16 pacts in a range of sectors like nuclear energy, oil, IT, aerospace and railways, facilitating billions of dollars of investment by the UAE in India, are likely to be inked here during the visit of His Highness Shaikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, beginning Wednesday.
Ways to contain radicalism, stepping up counter-terrorism cooperation and dealing with Daesh will figure prominently in talks Shaikh Mohammed bin Zayed will have with Prime Minister Narendra Modi on Thursday, UAE Ambassador Ahmed Al Banna said.
A major focus of the three-day visit by Shaikh Mohammed bin Zayed, which comes around six months after Modi's trip to UAE, will be on stepping up economic ties.
"We have on hand around 16 agreements for cooperation between different ministries and authorities. Out of 16, almost 12 have been finalised and ready for signature. Hopefully all the 16 will be signed," said Al Banna.
The envoy said the agreements will lead to "huge investment portfolio" in diverse areas including renewable energy, oil and gas and some other major sectors.
The pact on nuclear cooperation will provide for peaceful use of atomic energy as research and development in the area. The UAE has similar pact with France and some other countries.
Al Banna said Modi's visit to the UAE, after a gap of 34 years by an Indian Prime Minister, has opened a new path in strengthening ties and Shaikh Mohammed bin Zayed's trip will further build on it.
"It (the visit) will reinforce the ongoing relationship and will take us to the next (level) that both sides are looking at which is strategic cooperation, strategic coordination and strategic relationship," the envoy said.
Identifying terrorism as a major threat facing the world, the envoy said both India and UAE are increasing security and counter-terrorism cooperation to deal with the menace.
On the issue of checking radicalism, he said India and UAE will work "hand in hand to fight them. Yes, there will be some cooperation on this".
On containing Daesh, the envoy said both the countries will have cooperation while identifying the social media as a major platform being used by "fanatics" to radicalise people.
Al Banna said his government has already set up specialised centres to educate people about those who use the social media the "wrong way".
He said UAE's cooperation in the area of counter-terrorism with India and many other countries has increased in the last one year and will expand further.
On investment in India by Abu Dhabi Investment Authority, he said things are moving fast and that many other private investors from the UAE are also looking at investing in India in a significant way.
He said the business delegation will go straight to Mumbai where they will have in-depth talks with their Indian counterparts.
Asked about the proposed free trade agreement between India and Gulf Cooperation Council countries, Al Banna hoped it will be finalised soon. "We want it to be signed as soon as possible."
On Modi's possible visit to Israel, he said it was India's prerogative.
Asked whether the situation in Syria will figure in talks, the envoy said a number of pressing global and regional issues, including situation in the strife-torn country may be discussed. 

• India
• Abu Dhabi