India, UAE explore new vistas of cooperation; two MoUs inked

The UAE and India are actively exploring new avenues for joint cooperation, including a public-private partnership model in healthcare.

The implementation of the Comprehensive Economic Partnership Agreement (CEPA), on May 1, infused fresh momentum into the development of bilateral ties across diverse areas.

Recently, a team consisting of both government and private sector representatives from the UAE and India visited Kenya and Tanzania to identify opportunities for joint projects in the health sector, the Indian Embassy in Abu Dhabi said.

The historical association with the UAE has been very beneficial to India and “shapes and influences our thinking”, said Dr S. Jaishankar, India’s External Affairs Minister, who co-chaired the 14th India-UAE Joint Commission Meeting (JCM) with Sheikh Abdullah bin Zayed Al Nahyan, UAE’s Minister of Foreign Affairs and International Cooperation.

Sheikh Abdullah and Jaishankar emphasised the importance of promoting start-ups and entrepreneurship in different fields such as fintech, edutech, healthtech, agritech, logistics and supply chains.

On Thursday, two memorandum of understanding (MoU) were inked to preserve rare bird species facing extinction and on forming a cultural forum.

Signed in the presence of the ministers, the first MoU was inked between Wildlife Institute of India and International Fund for Houbara Conservation for the conservation of the Great Indian Bustard and the Lesser Florican, which are members of the bustard family and among the world’s rarest bird species.

The second MoU was between the UAE’s Ministry of Foreign Affairs and International Cooperation of and Indian Council for Cultural Relations (ICCR) on the establishment of the India-UAE Cultural Council Forum.

Sheikh Abdullah and Jaishankar noted the possibility of linking instant payment platforms in either country, such as through the United Payment Interface (UPI) of India.

The two ministers were joined by Reem bint Ibrahim Al Hashemy, Minister of State for International Cooperation, Dr Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, Vinay Kwatra, Foreign Secretary of India and ambassadors and senior officials from both sides.

Sheikh Abdullah and Jaishankar expressed happiness at the CEPA officially entering into force and organisation of various activities and events for the effective implementation of the agreement. They reiterated commitment to achieving the goal of $100 billion of bilateral trade in the next five years. The investment partnership between both countries and the growth of UAE investments in India in diverse sectors was assessed. It is expected that the next meeting of the High-Level Task Force between the two countries will be held shortly in India.

Sheikh Abdullah and Jaishankar expressed their deep satisfaction at the continued high growth trajectory of bilateral relations. They noted the regular interactions between both the sides, especially the meeting between Prime Minister of India, Narendra Modi and UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan on June 28 in Abu Dhabi, their Virtual Summit on February 18, and their participation in the virtual I2U2 Summit in July – the new grouping of India, Israel, the UAE and the US.

Both the ministers noted the cooperation in various multilateral forums and international organisations, particularly in the UN Security Council in 2022.

They reviewed the progress in various elements of bilateral cooperation identified in the Vision Statement adopted by the countries’ leadership.

They underlined their commitment to further strengthen their long-term energy partnership, including two-way investments. They noted the progress in discussions on various aspects related to renewable energy and green Hydrogen. An MoU on Climate Action was signed in May.

They reviewed the ongoing discussions between the two sides in food security, including in the I2U2 framework. Both the ministers expressed happiness at the developments made in healthcare and education cooperation.

The discussions between both sides on establishment of an Indian Institute of Technology in UAE have moved forward with the establishment of a Joint Working Group between institutions on both sides.

Sheikh Abdullah appreciated the contribution of the Indian community to the UAE’s progress and development while Jaishankar thanked him and the UAE leadership for taking care of the Indian community. Both sides agreed to hold the meetings of various institutional dialogues on consular issues, skills and manpower in the coming months.

The third India-UAE Strategic Dialogue will be held on Friday. Also, the Indian minister is expected to meet Sheikh Mohamed on Friday.

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