Sheikh Abdullah bin Zayed, Minister of Foreign Affairs and International Co-operation, and Narendra Modi, India’s Prime Minister, met on Monday to discuss ways of increasing partnerships between the two countries.
The two met in India on Monday after a joint workshop, organised by Adnoc and the Indian Ministry of Petroleum and Natural Gas, on expanding investments and partnerships in the oil and gas industry in the UAE and India.
Sheikh Abdullah and Mr Modi reiterated their governments’ wish for stronger partnerships in the energy sector, particularly in the petroleum industry.
"The UAE is unwavering in its commitment to the strategic multilateral relationship with India and being a reliable partner in India’s energy security,” said Sheikh Abdullah.
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“We look forward to exploring further opportunities to expand our existing ties and to collaborating on new opportunities that will strengthen and deepen the rich and long-standing strategic relationship between our two countries.”
The New Delhi meeting was also attended by Dr Sultan Al Jaber, Minister of State, and Adnoc Group chief executive, and Shri Dharmendra Pradhan, India’s Minister of Petroleum and Natural Gas.
"India is an important market for Adnoc and we are keen to explore mutually beneficial investment and partnership opportunities,” Dr Al Jaber said.
Common economic objectives underpin India-UAE relations. Since the 1980s, bilateral trade between the countries has soared from $182 million (Dh67m) to some $53 billion annually, of which $18 bn is oil related. By 2020 bilateral trade between the two countries is forecast to reach $100 billion as India’s economy gathers momentum, reported state news agency Wam.
India, the world's third-biggest consumer of crude after the US and China, is expected to more than double its energy consumption by 2040.
Today, India is 82 per cent dependent on imports to meet its crude oil needs, eight per cent of which is supplied by the UAE.
On Monday, Sheikh Abdullah also met with Sushma Swaraj, India's Minister of External Affairs.
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The two discussed bilateral ties, ways to enhance co-operation and the strengthening of diplomatic relations.
Earlier Ms Swaraj and Dr Al Banna exchanged an agreement related to diplomatic training between the Emirates Diplomatic Academy and the Foreign Service Institute of India.
Sheikh Abdullah also visited the tomb of the Mughal Emperor Humayun during his visit to New Delhi.
He toured parts of the 30-acre garden surrounding Humayun's tomb, that is considered to be one of the most prominent archaeological sites of the Mughal Empire and was added to the Unesco World Heritage List in 1993.
