India and the United Arab Emirates have signed two agreements, including one on currency swap, during visit of the External Affairs Minister Sushma Swaraj to Abu Dhabi.&nbsp;<br />''<br />''<br />''She yesterday held exhaustive discussions with her UAE counterpart Abdullah bin Zayed to step up bilateral cooperation in areas like security, defence, counter-terrorism, trade and energy.&nbsp;<br />''<br />''<br />''External Affairs Ministry spokesperson Raveesh Kumar in a tweet said that both the leaders co-chaired the 12th session of the India-UAE Joint Commission Meeting for Economic and Technical Cooperation.<br />'' <br />''Currency Swap is such a pact between two countries that allows trading in their own currency and payments to import and export trade at pre-determined exchange rate without bringing in a third benchmark currency like the US dollars.<br />'' <br />''The second agreement would enable both sides to undertake development projects in Africa.&nbsp;<br />'' <br />''Mrs Swaraj also called on Crown Prince of Abu Dhabi Sheikh Mohammed bin Zayed Al Nahyan. He emphasized the special nature of India-UAE relations thanks to the leadership of Prime Minister Narendra Modi. He stressed the importance that both nations attached values of peace and tolerance.&nbsp;<br />'' <br />''<span style="color: #222222;">Mrs Swaraj interacted with the Indian community and appreciated their contribution in enhancing relations with the UAE, which hosts a 33 lakh-strong Indian community – the largest number of Indians outside India.</span><br />
News On AIR | December 5, 2018 9:07 AM
India, UAE sign two agreements, including one on currency swap