11th session of the India-UAE Joint Commission Meeting for Technical and Economical Cooperation was held on 2 September to 3 September 2015, in New Delhi. The UAE team had reiterated its commitment to undertake extensive investments in India. Al-Nahyan co-chaired the meet of the Joint Commission with External Affairs Minister.
The meet was held during the visit of His Highness Sheikh Abdullah Bin Zayed Al-Nahyan, Minister of Foreign Affairs of United Arab Emirates to India. Al-Nahyan also led a delegation of senior officials and captains of leading UAE business houses to India.
During the visit, Al-Nahyan also met with the Prime Minister Narendra Modi, External Affairs Minister Sushma Swaraj, Minister of Defence Manohar Parrikar, Minister for Railways Suresh Prabhu, and National Security Adviser Ajit Doval.
Highlights of the decisions made and issues discussed during Joint Commission Meeting
• The two sides agreed to increase the bilateral trade by 60 percent over the next five years.
• The two sides also agreed to encourage the investment institutions of the UAE to raise their investments in India, including through the establishment of UAE-India Infrastructure Investment Fund, with the aim of reaching a target of 75 billion US dollar.
• The two sides agreed to work for early establishment of the planned India-UAE Joint Fund for investments in the infrastructure sector in India.
• An India-UAE Joint Business Council was inaugurated by the two Foreign Ministers
• The two sides signed MOUs on cooperation in the areas of Higher Education & Scientific Research; Tourism, Specifications and Measures, for cooperation between the respective Telecom Regulatory Authorities and also between the Federation of Indian Chambers of Commerce and Federation of UAE Chambers of Commerce & Industry.
Besides, the two sides also discussed subjects in areas like, Trade & Commerce; Investments; Finance & Banking; Energy, Hydro-carbons, Petrochemicals & Fertilizers; Defence and Space; Transport, Civil Aviation, Ports & Meteorogy; Health & Agriculture, Education, Culture & Tourism; Security and Combating Crime; Immigration, Consular and Indian Community related issues and arrived on agreements to enhance our cooperation in these areas.
India and UAE enjoy strong bonds of friendship, which are founded on millenia-old cultural, religious and economic interaction between the two regions. The two countries are one of the largest trade partners for each other and have made robust investments with each other. UAE is the sixth largest source of India’s oil imports and hosts a 2.6 million-strong Indian Community.
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Where: New Delhi