India-UAE Bilateral Relations Reach New Heights



On June 23, 2024, Indian Foreign Minister Dr S Jaishankar undertook a crucial visit to the United Arab Emirates (UAE), highlighting the strategic importance both countries place on their bilateral relationship. This visit, coming shortly after Dr Jaishankar's reappointment as India's External Affairs Minister, underscored India's commitment to deepening ties with the UAE, a key partner in its foreign policy agenda.


Bilateral Milestones and Cooperation

Over the past four years, India and the UAE have achieved significant milestones that have bolstered their partnership across various sectors:


India-Middle East-Europe Corridor (IMEC): The cooperation under IMEC has opened new avenues for trade and connectivity, enhancing economic linkages between South Asia, the Middle East, and Europe.


Comprehensive Economic Partnership Agreement (CEPA): Signed in 2022, the CEPA has facilitated smoother trade relations by reducing barriers and promoting investment flows between the two countries.


Currency Settlement: The agreement on trade settlement in bilateral currencies has reduced dependency on international currencies, promoting financial stability and ease of transactions.


Integration of UAE Cards on India's Rupay Stack: The inclusion of UAE debit and credit cards on India's Rupay payment network has streamlined financial transactions for both Indian and UAE nationals.


Strategic Discussions and Future Prospects

During his visit, Dr Jaishankar engaged in extensive discussions with his Emirati counterpart, Sheikh Abdullah bin Zayed Al Nahyan, focusing on strategic issues such as regional security, energy cooperation, and enhancing people-to-people ties. The discussions reaffirmed both nations' commitment to regional stability and prosperity.


Cultural and People-to-People Ties

Beyond economic and strategic cooperation, India and the UAE share strong cultural bonds, with a vibrant Indian diaspora contributing significantly to the UAE's socio-economic fabric. Initiatives to enhance cultural exchanges and promote educational collaborations were also part of the agenda, reflecting a holistic approach to bilateral relations.


A Path Towards Greater Collaboration

The visit of Dr S Jaishankar to the UAE marks another milestone in the evolving partnership between India and the UAE. As both countries navigate the complexities of a changing global landscape, their commitment to mutual respect, economic cooperation, and shared prosperity stands as a beacon for regional cooperation and international diplomacy.



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