India and UAE Sign Five Key MOUs, Paving the Way for $100 Billion in Trade
The visit of Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan to India on September 9, 2024, not only underscored the growing strategic partnership between India and UAE but also set the stage for significant economic and diplomatic advancements. After this visit the relation between India and UAE have strengthen its bilateral ties, signed multiple agreements as part of a broader Comprehensive Economic Partnership Agreement (CEPA). During this visit the two countries are poised to boost their bilateral trade from the current $60 billion to $100 billion over the next five years.
CEPA is one of the important agreements between India and UAE, after this an enhancement in trade, investment has increased. This deal also aligned with the ambition of India to become a $5 trillion economy and the ambition of UAE to diversify its economy beyond oil.
This visit highlighted not only the strategic relationships but also strengthen the ties by showing respect for India’s glory of past. During his visit to India Sheikh Khaled bin Mohamed bin Zayed Al Nahyan visited Rajghat. He is the third generation of UAE leaders to plant a sapling at Rajghat, following the footsteps of UAE President Sheikh Mohamed bin Zayed Al Nahyan and the UAE’s founding father, Sheikh Zayed bin Sultan Al Nahyan. This act of respect not only highlights the deep-rooted diplomatic ties between the two countries but also the shared values of peace and cooperation.
Five critical MOU were signed during this visit, it is enhancing the various core key sectors:
| S.No. | MOU Title | Description |
| 1 | MOU on Barakah Nuclear Power Plant Operations and Maintenance | Agreement between Emirates Nuclear Energy Company and Nuclear Power Corporation of India Ltd. allowing India access to UAE’s uranium reserves and providing operational support for Barakah Nuclear Plant. |
| 2 | MOU on Long-Term Supply of Liquefied Natural Gas (LNG) | Agreement between Abu Dhabi National Oil Company (ADNOC) and Indian Oil Corporation to ensure steady LNG supply from UAE to India, enhancing India’s energy security. |
| 3 | MOU Between ADNOC and India Strategic Petroleum Reserve Limited | Agreement to explore the development of underground rock caverns for oil storage in India, part of India’s strategy to strengthen energy infrastructure and future demand handling. |
| 4 | MOU Between Gujarat Government and Abu Dhabi Developmental Holding Company | Collaboration focusing on the development of food parks in India to enhance agricultural cooperation, boost food processing, and ensure food security for both nations. |
| 5 | Production Concession Agreement for Abu Dhabi Onshore Block 1 | Partnership between Urja Bharat and ADNOC for exploration and production activities in an onshore oil block in Abu Dhabi, reinforcing India’s involvement in UAE’s energy production. |
Also Read | Crown Prince of Abu Dhabi in India: Strengthening 50 Years of India-UAE Collaboration
After the MOUS the ‘UAE-India Business Forum kicks off in Mumbai’;
Today UAE-India Business Forum started in Mumbai with theme ‘Beyond CEPA: Innovation and Future-Ready Economies.’ This will focus on healthcare, biotechnology, renewable energy, sustainability, AI, logistics and supply chains, and agricultural technology.
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