UAE Foreign Minister Sheikh Abdullah bin Zayed discussed energy, food security, and the expansion of bilateral trade with his Indian counterpart Dr. Subrahmanyam Jaishankar following the recent CEPA agreement.
On February 18, the two countries’ Comprehensive Economic Partnership Agreement (CEPA) was signed. The Indian Prime Minister’s office stated at the time that it would increase annual bilateral non-oil trade from $60 billion to $100 billion within the following three to five years.
Between April and September, India exported goods worth around $16 billion to the UAE, a 24 percent rise from the same period last year. The external affairs ministry reported that during the same time period, India’s imports rose by 38% to $28.4 billion.
“We are seeking to boost our economic cooperation to achieve our ambitious goal of raising our non-oil trade value to around US$100 billion in the next five years, Sheikh Abdullah was quoted as saying by the Emirates News Agency (WAM).
The two ambassadors also talked about enhancing cooperation in the health and technology sectors as part of the CEPA agreement.
According to reports, the Indian Institute of Technology (IIT) in Delhi has discussed opening a campus in Abu Dhabi with its partner, ADEK.
As the G-20’s annual summit in Bali came to a close on November 16, Indonesian President Joko Widodo turned over the G-20 presidency to Indian Prime Minister Narendra Modi.
In December, New Delhi will formally take over as the Group of Twenty’s leader, serving in that capacity through much of 2023 and hosting the summit in September of that year with the theme “One Earth, One Family, One Future.”
In light of this change of presidency, Sheikh Abdullah and Jaishankar discussed India’s priorities as the president of G20, and “ways to enhance the UAE’s participation in the Group’s activities, serving as a guest country for the second consecutive year, as well as boosting the contributions of the private sector in both countries to the G20’s activities…” WAM reported.
“They also reviewed the prospects of the UAE-India cooperation at the level of multilateral groups and organizations, be it through existing partnerships such as the I2U2 Group, or future cooperation opportunities with BRICS, an informal grouping of Brazil, Russia, India, China and South Africa, and the Shanghai Cooperation Organization,” the report added.
The UAE delegation included: Reem bint Ibrahim al-Hashemy, Minister of State for International Cooperation; Dr. Abdul Nasser al-Shaali, UAE Ambassador to India; Saeed Mubarak al-Hajeri, Assistant Foreign Minister for Economic and Trade Affairs at the Ministry of Foreign Affairs and International Cooperation (MoFAIC); and Omran Anwar Sharaf al-Hashemi, Assistant Minister for Advanced Sciences and Technology Affairs at MoFAIC.
The two ministers also discussed collaboration between their nations in the UN Security Council and traded opinions on current events.