India and the United Arab Emirates (UAE) have taken significant strides in bolstering their strategic partnership at the 15th India-UAE Joint Commission Meeting in New Delhi.
The meeting, co-chaired by External Affairs Minister S. Jaishankar and UAE Foreign Minister Sheikh Abdullah bin Zayed Al Nahyan, focused on expanding collaboration across various key sectors.
Expanding Economic Cooperation
The meeting underscored the robust economic ties between India and the UAE, with bilateral trade reaching an impressive $85 billion since the implementation of the Comprehensive Economic Partnership Agreement (CEPA) in May 2022.
Jaishankar described the relationship as a ‘model’ partnership, highlighting the growing diversification and depth of their economic and commercial engagements.
Advancing Strategic Initiatives
A major point of discussion was the India-Middle East-Europe Economic Corridor (IMEEC), an ambitious project aimed at enhancing maritime connectivity and facilitating trade between the regions.
Both ministers also explored collaborative opportunities in emerging technologies, such as digital infrastructure, Central Bank Digital Currencies (CBDCs), and instant payment systems.
Expanding Cooperation in Key Sectors
The two sides engaged in productive talks on several strategic areas, including defense, nuclear energy, polar research, critical minerals, and renewable energy.
The ministers also emphasized long-term energy cooperation, with mutual interests in supply agreements, upstream and downstream project collaborations, and investments in strategic reserves.
Additionally, both nations showed keen interest in green hydrogen and critical minerals as new domains for partnership.
Institutional Collaborations and Educational Partnerships
Institutional collaborations were another highlight of the discussions, especially the establishment of educational institutions.
The IIT-Delhi Abu Dhabi campus was celebrated, alongside ongoing efforts to create overseas campuses for the Indian Institute of Management, Ahmedabad, and the Indian Institute of Foreign Trade in Dubai.
Commitment to Strengthening Bilateral Relations
In a significant development, India and the UAE also welcomed the signing and implementation of a bilateral investment treaty.
As reported by knnindia.co.in, this marks another milestone in their commitment to deepening economic and strategic ties, reinforcing their growing partnership in a range of sectors.
