PM Modi To Visit UAE Today After Attending G7 Summit. Check Details
This will be PM Modi's first visit after signing of Comprehensive Economic Partnership Agreement which is aimed at improving trade between the two countries.
New Delhi: Prime Minister Narendra Modi, who met his counterparts from the UK, Japan and Italy and exchanged views on a range of issues with them on the sidelines of the G7 Summit, will be heading to the United Arab Emirates on Tuesday. On Monday, Modi shared updates from Germany about meeting world leaders, including UK Prime Minister Boris Johnson, Japanese Premier Fumio Kishida and Italian Prime Minister Mario Draghi.
Modi will visit UAE and pay his condolences on the passing away of Sheikh Khalifa bin Zayed Al Nahyan, the former president of the Gulf nation. Sheikh Khalifa passed away on May 13 after battling prolonged illness.
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Modi will also congratulate H H Sheikh Mohamed bin Zayed Al Nahyan on his election as the new President of the UAE and the ruler of Abu Dhabi. The PM will leave for the gulf nation on Tuesday, according to the ministry. This will be his first visit after signing Comprehensive Economic Partnership Agreement (CEPA). The India-UAE CEPA is the first deep and full free trade Agreement to be signed by India with any country in the past decade. The agreement provides for an institutional mechanism to encourage and improve trade between the two countries.
The PM’s visit is expected to streghten relations between the two nations, with bilateral ministerial meetings and outreach programmes underway on the benefits of the free trade deal.
Modi’s visit to UAE earlier this year for the Dubai Expo was cancelled due to rising number of Covid cases. He will be touring the nation for the fourth time after 2015, 2018, and 2019. On the other hand, Sheikh Mohamed travelled to India in 2016 and 2017.
During his last visit, PM Modi was honoured with UAE's highest award, the 'Order of Zayed'. Recently India declared a day of national mourning on May 14 as a mark of respect to the late UAE President.
With exports to the UAE valued at $29 billion for the year 2019-20, UAE is also the second largest export destination of India, while Indian imports from the UAE were valued around $30 billion, including 21.83 MMT of crude oil. The UAE is an important source of India’s energy supply and a key partner of India in the development of strategic petroleum reserves, upstream, and downstream petroleum sectors.
The UAE remains India's eighth largest investor with an estimated investment to the tune of $18 billion.
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