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India keen on boosting ties with UAE to meet global challenges

LiveMint logoLiveMint 11-04-2017 PTI

Dubai: India said on Tuesday that it was keen on bolstering its strong ties with the UAE and asserted that increased bilateral coordination was needed to face challenges posed by fast-paced international developments.

Minister of state for external affairs M.J. Akbar, in his address here at the 11th forum of UAE ambassadors and heads of representative missions, said India was interested in strengthening its relations with the UAE.

He stated that India wanted to boost ties in light of the prospects for bilateral cooperation, regional and fast-paced international developments and shifts, the state-run WAM news agency reported.

Akbar said that the two countries need to further boost coordination and understanding in order to face challenges posed by these shifts and invest in available opportunities.

During the forum, being organised by the UAE’s ministry of foreign affairs and international co-operation from 9-13 April a special session was dedicated to UAE-India relations and international developments. The session was moderated by the UAE Ambassador to India, Dr Ahmed Abdulrahman Al Banna.

Meanwhile, the UAE International Investors Council (UAEIIC) and UAE-India Business Council (UIBC) signed a Memorandum of Understanding (MoU) for facilitating trade and investments including for the expansion of joint ventures, technological and industrial collaboration.

The MoU was signed by Jamal Saif Al Jarwan, Secretary- General UAEIIC, and Abdul Salam, Director General, UIBC, during the seventh edition of Annual Investment Meeting (AIM) in Dubai.

As per the agreement, UAEIIC and UIBC will work together to facilitate, strengthen and diversify the cooperation between the UAE and Indian businesses, for pursuing a constant expansion of the trade and investment between both the countries through exchange of business delegations, trade related information, and jointly organising trade shows, seminars and technical workshops.

Both sides reached extensive consensus on working towards tracking UAE investors’ issues and concerns and facilitating in resolving them in the best possible manner through a constructive dialogue between the investors and government agencies.

UAE International Investors Council was formed with the vision of acting as a link between investors abroad and the government in order to promote the competitiveness of Emirates investments abroad.

UAE-India Business Council (UIBC) is the official Joint Business Chamber set up by both the governments for promoting economic synergy between the UAE and India. UIBC was formally launched in September, 2015, in New Delhi by foreign minister Sheikh Abdullah Bin Zayed Al Nahyan and external affairs minister Sushma Swaraj.

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