India, UAE discuss collaboration on trans-regional trade routes

Sandeep Dikshit

New Delhi, June 24

External Affairs Minister S Jaishankar and his UAE counterpart Sheikh Abdullah bin Zayed Al Nahyan discussed efforts to strengthen joint cooperation in nine identified sectors, many of which are crucial for the operationalisation of the India-Middle East-Europe Economic Corridor (IMEEC) announced at the G20 summit in India last September.

This is Jaishankar’s second official overseas visit during the third term of the Modi government. He was in Colombo last week. A week after PM Narendra Modi and UAE President Sheikh Mohamed bin Zayed Al Nahyan met on the margins s of the G7 Summit in Italy, the Union Cabinet on June 19 had cleared a Rs 76,000 crore all-weather deep-water port at Vadhavan in Maharashtra’s Palghar district to “aid trade flow through IMEEC and International North South Transportation Corridor (INSTC),” Union Minister Ashwini Vaishnaw had then said.

The topics discussed by the two ministers include sectors crucial for the viability of IMEEC and INSTC — investment, food security and renewable energy. At their dinner meeting in Abu Dhabi on Sunday, Sheikh Abdullah noted that the two nations share a strong bond, marked by growing momentum in bilateral cooperation.

The two ministers also discussed new areas with untapped potential, enhancing collaboration within international organisations besides exchanging views on current regional and international developments, including the situation in the Middle East, said a UAE Foreign Ministry note. “Productive and deep conversations on our ever growing comprehensive strategic partnership. Appreciated the discussion and his insights on regional and global issues,” posted Jaishankar on the net.

A statement by the MEA noted that Jaishankar visited a newly built temple in Abu Dhabi where he “appreciated that the Mandir has become an iconic cultural destination in the UAE with a large number of daily visitors”.’ It also said the minister’s visit to the UAE, within two weeks of his re-appointment, signifies the importance India attaches to its relations with the country.

Last year, the two nations had implemented the local currency trade settlement agreement, launched India’s RuPay in the UAE and set up a campus of IIT Delhi in Abu Dhabi, a fintech collaboration. In March, New Delhi had approved a framework agreement for collaboration between the UAE and India on the IMECC.

New areas with untapped potential

External Affairs Minister S Jaishankar and his UAE counterpart Sheikh Abdullah bin Zayed Al Nahyan also discussed new areas with untapped potential, enhancing collaboration within international organisations besides exchanging views on current regional and international developments, including the situation in the Middle East.