INDIA COMES CLOSE TO UAE (Pakistan Observer)

INDIAN Prime Minister Narendra Modi made a successful two-day visit to the United Arab Emirates (UAE) during which both the countries decided to elevate their relationship to a comprehensive strategic partnership and chart out a new course for cooperation in key areas like trade and investment, defence, security, maritime security and intelligence sharing. The visit to the Gulf State by an Indian leader after 35 years brought dividend far beyond expectations as the two sides agreed to set up an Infrastructure Investment Fund with a target of $ 75 billion and establishing a mechanism for regular meetings between their security agencies to improve operational cooperation.

The outcome of the visit indicates that it was quite meticulously planned and the targets were well set. According to the joint statement, the two countries decided to establish a dialogue between their national security advisers and national security councils with bi-annual meetings and agreed to cooperate in the manufacture of defence equipment in India, work together to promote peace, reconciliation and stability in the region, promote cooperation in space technology and projects and cooperate in peaceful uses of nuclear energy. On the economic front the two countries will facilitate participation of Indian companies in infrastructure development in the UAE; they will also promote strategic partnerships in the energy sector, including UAE’s participation in the development of strategic petroleum reserves and upstream and downstream petroleum sectors in India. By upgrading the bilateral relationship to a comprehensive strategic partnership, Modi plans to open different sectors of the Indian economy to investment from the UAE. India hopes to benefit from the $800 billion UAE sovereign wealth fund and the joint statement gives room for optimism. While interacting with a delegation of top industrialists in Abu Dhabi, the Indian Prime Minister made an open offer to them saying there is an immediate possibility of one trillion dollars of investment in India. From these achievements, one should give credit to Indian leader and bureaucrats that they are exploring all possible avenues simultaneously to gain financially and advance their political and diplomatic interests, to the mutual benefit of the two sides.