The letter written by PM Modi is related to strengthening the strategic ties between the two countries and exploring the possibilities of developing them to serve the common interests.
Image Credit source: File Photo
Prime Minister Narendra Modi has written to the President of the United Arab Emirates (UAE) Sheikh Mohamed bin Zayed Al Nahyan, emphasizing on strengthening the strategic ties between the two countries and exploring the possibilities of developing them to serve common interests. The official media of UAE has given this information. PM Modi This letter of External Affairs Minister S. Jaishankar handed it over to the UAE President when he met him in Dubai on Friday during his visit to the Gulf country.
Jaishankar was in the UAE this week to attend meetings of the 14th session of the UAE-India Joint Committee and the third session of the UAE-India Strategic Dialogue. The UAE’s official news agency WAM reported that the letter pertains to strengthening the strategic ties between the two countries and exploring possibilities to develop them to serve common interests. According to WAM, during the meeting, the two sides discussed various aspects of bilateral relations and the importance of cooperation to advance the mutual relationship within the framework of the Comprehensive Strategic Partnership and the UAE-India Comprehensive Economic Partnership Agreement (CEPA). Apart from this, they also discussed many regional and international issues of mutual concern.
UAE is India’s third largest trade partner
Jaishankar said in a tweet on Friday, ‘Thank you President Sheikh Mohamed bin Zayed Al Nahyan for my hospitality. The President was apprised of the personal greetings and warm wishes of Prime Minister Narendra Modi. We highly value his guidance in taking our comprehensive strategic partnership to greater heights.’ In the financial year 2021-22, the bilateral trade between the two countries was about 72 billion US dollars. UAE is India’s third largest trading partner and second largest export destination. Foreign Direct Investment (FDI) from UAE into India has grown steadily over the years and currently stands at over US$12 billion.
35% Indians in UAE
The Indian expatriate community is the largest ethnic community in the UAE, accounting for about 35 percent of the country’s population. UAE was India’s third largest export destination (after the US and China) for the year 2020-21 with an amount of around USD 16 billion. With respect to UAE, India emerged as the third largest trading partner country in the year 2020 with non-oil trade of around US$ 27.93 billion.
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