India and United Arab Emirates, UAE, has reaffirmed their resolve to work together to increase trade by 60 percent over the next five years. A joint statement issued in New Delhi today said the two sides examined various tariff and non-tariff barriers and agreed to enhance the trade of priority commodities and expand the access of goods and services in both markets.India and the UAE discussed their plans for infrastructure development. The Indian side highlighted the experience and expertise its companies had acquired in infrastructure development, including in power generation and transmission, civil construction, railways and metros, hospitals, airports, housing and roads. The UAE noted its interest in investing in infrastructure development in India, especially in priority areas such as railways, roads, ports, and shipping.Both the countries further agreed to exchange information on various investment opportunities and related incentives and to exchange information on financial, legal, and administrative incentives.Prime Minister Narendra Modi and Crown Prince of Abu Dhabi Sheikh Mohammed Bin Zayed Al Nahyan held wide-ranging discussions Thursday and exchanged views on bilateral, regional and multilateral issues of mutual interest and reached a broad consensus.They agreed to enhance cooperation to strengthen maritime security in the Gulf and the Indian Ocean region, which is vital for the security and prosperity of both countries.The Crown Prince who began his three-day visit to India on Wednesday is now in Mumbai where he will visit Bombay Stock Exchange and then leave for Abu Dhabi.
News On AIR | February 12, 2016 4:26 PM
India, UAE reaffirm their resolve to increase trade by 60% over next 5 yrs