UAE and India Strengthen Strategic Partnership Through Growing Economic Cooperation

UAE, 9 September, 2024 : The official visit of H.H. Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, to India underscores the enduring strategic and historic relations between the UAE and India. This visit reflects the growing collaboration in key sectors such as economic development, investment, trade, and climate action, positioning their relationship as a global model of cooperation.

Bilateral ties date back to 1975, when the UAE's Founding Father, Sheikh Zayed bin Sultan Al Nahyan, visited India, marking the start of formal relations with the signing of a Cultural Agreement. Over the years, these ties have grown through a series of high-level exchanges, with the most recent development being the Comprehensive Strategic Partnership Agreement signed in 2017.

A major milestone in their partnership came with the UAE-India Comprehensive Economic Partnership Agreement (CEPA) in February 2022, aimed at enhancing trade and investment. Non-oil trade between the two nations rose to $53.4 billion in 2023, and the CEPA is expected to boost this further to $100 billion by 2030.

The countries have also strengthened political, cultural, and diplomatic ties, supporting each other in international forums. UAE investments in India from 2019 to 2023 reached $16.2 billion, while Indian investments in the UAE amounted to $7.76 billion. The Indian community in the UAE remains the largest foreign community, contributing significantly to the UAE's economy.

Cultural ties remain robust, with the 1975 Cultural Agreement fostering numerous joint activities. In 2019, the Zayed-Gandhi Digital Museum was inaugurated in Abu Dhabi, celebrating the legacy of both nations' founding leaders.

Source : www.wam.ae