Mumbai (Maharashtra) [India], October 20 (ANI): External Affairs Minister S Jaishankar remarked on Tuesday that the regional situation in West Asia remains a matter of “deep concern”. He affirmed that New Delhi will support every initiative encouraging peace through dialogue and diplomacy. He said this during discussions with his counterpart from the United Arab Emirates (UAE), Sheikh Abdullah bin Zayed Al Nahyan.
Al Nahyan, who is also the Deputy Prime Minister of the Emirates, arrived in Mumbai on Monday evening for a two-day visit. His official visit to India comes amid a recent surge in attacks targeting Saudi Arabia, reportedly orchestrated by Houthi rebels.
During his televised opening remarks at the meeting, Jaishankar highlighted how the Comprehensive Economic Partnership Agreement (CEPA) established between India and the UAE has substantially boosted bilateral trade and financial ties.
“The situation in the Gulf remains a matter of deep concern. We will continue to work together and support all efforts to promote dialogue and diplomacy,” he stated.
“We continue to support the free, safe and unimpeded flow of trade, energy and fertiliser. I would also like to thank you, and through you, the UAE leadership, for ensuring the well-being of the Indian community in the UAE,” he added.
Furthermore, Jaishankar observed that, despite macroeconomic turbulence and geopolitical challenges, the commercial partnership between the two nations continues to establish “new benchmarks”.
“The bilateral trade has crossed the USD 100 billion mark since the signing of the CEPA, and two-way investments continue to grow, reflecting the confidence of our businesses in each other’s economies,” he said.
“Cooperation in defence, energy and technology is acquiring a strategic character. Our people-to-people ties continue to enrich the lives of our communities. Our cultural partnership is also gaining strong momentum,” he noted.
Bilateral trade and cultural exchange have increased significantly since New Delhi and Abu Dhabi signed the CEPA in 2022.
Currently, both countries rank among each other’s leading trade and investment partners, underpinned by the CEPA, a domestic currency settlement framework and the bilateral investment treaty. (ANI)
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