Prime Minister Narendra Modi is set to embark on a two-day tour to the United Arab Emirates (UAE) commencing on Tuesday, marking his seventh visit to the region. The visit aims to fortify the already robust ties between India and the UAE, covering various dimensions of their relationship.
During his stay, Prime Minister Modi is scheduled to engage in crucial bilateral discussions with His Highness Sheikh Mohamed bin Zayed Al Nahyan, the President of the UAE. The talks will concentrate on enhancing the strategic partnership, with a particular emphasis on expanding collaboration across diverse sectors. Both leaders are expected to address regional and international matters of mutual interest during the discussions.
Additionally, Prime Minister Modi will meet with His Highness Sheikh Mohammed bin Rashid Al Maktoum, the Vice President, Prime Minister, and Defence Minister of the UAE. As a distinguished guest, he will partake in the World Government Summit 2024 in Dubai, where he is slated to deliver a special keynote address.
A significant highlight of the visit is the inauguration of the BAPS Mandir, the first Hindu temple in Abu Dhabi, scheduled for Wednesday.
The economic collaboration between India and the UAE has been thriving, with the UAE ranking among the top four foreign direct investors in India during the fiscal year 2022-23. Bilateral trade between the two nations reached an impressive $85 billion during that period, solidifying their positions as vital trading partners. Key agreements, such as the Comprehensive Economic Partnership Agreement (CEPA) signed in February 2022 and the establishment of the Local Currency Settlement (LCS) System in July 2023, have further facilitated this economic partnership.
The Indian community, comprising approximately 3.5 million individuals in the UAE, holds the distinction of being the largest expatriate group in the country. Their significant contributions to the socio-economic development of the UAE have played a pivotal role in fostering robust people-to-people ties.