Al-Jaber: Close relations between the two countries are based on decades-old historical and commercial ties

An agreement between the UAE and India to enhance cooperation in industry, trade and energy

An agreement between the UAE and India to build partnerships between the public and private sectors to expand the use of renewable energy.

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The Minister of Industry and Advanced Technology and the UAE’s Special Envoy for Climate Change, Dr. Sultan bin Ahmed Al Jaber, during an official visit to the Republic of India, held a number of high-level meetings with Indian government officials and heads of industrial companies, focused on taking advantage of the opportunities offered by the transformation in the energy and growth sector industrial.

The visit witnessed bilateral meetings with a number of senior officials of the Indian government, including the Minister of External Affairs, Subramaniam Jaishankar, Minister of Commerce, Industry, Consumer Affairs, Food, General Distribution and Textiles, Piyush Goyal, and Minister of Environment, Forests and Climate Change, Sherry Bhubandar Yadav.

During the visit, it was agreed to expand the areas of bilateral cooperation between the two friendly countries, to accelerate progress in climate action, and implement the terms of the “Paris Agreement”, after Dr. Sultan Al-Jaber’s meeting with Subramaniam Jaishankar, where the two sides agreed to build partnerships between the public and private sectors, aimed at To expand the use of renewable energy, enhance the efficiency of the agricultural sector, produce green hydrogen, sustainable finance, and develop the carbon market.

On this occasion, Al Jaber said: “The UAE and India have close relations based on decades-old historical, commercial and diplomatic ties, whose pillars have been established by the leaderships of the two friendly countries.

India is today one of the largest trading partners of the UAE, and we look forward to benefiting from all opportunities for cooperation based on solid foundations of joint action, to achieve low-emission economic growth by providing appropriate solutions for the public and private sectors that support climate action efforts and promote economic prosperity for a better future. for our peoples.”

The expansion of areas of cooperation with the UAE contributes to supporting India's ambition to double its production of renewable energy to 450 gigawatts by 2030, and is in line with the UAE's ambitions to expand and develop its capabilities in the field of clean and low-carbon energy, and support progress towards achieving the UAE's strategic initiative for climate neutrality.

During the visit, Dr. Sultan Al Jaber and his accompanying delegation met with a number of business leaders in India, including Mukesh Ambani, Chairman and Managing Director of Reliance Industries, Bharat Petroleum Chairman Arun Singh, and Chairman of the Board of Directors of Bharat Petroleum. JSW Group management, Sajan Jindal, and Dr. Alka Mittal of ONGC Oil and Gas Company Limited.

The meetings with the private sector dealt with potential cooperation opportunities, especially in the field of emission reduction and climate solutions, and focused on industrial cooperation between the two countries, and taking advantage of the promising opportunities offered by the Comprehensive Economic Partnership Agreement between the UAE and India, which was recently announced and has been in operation since the beginning of the month. This May.

India is the second largest trading partner of the UAE, and accounts for 9% of the volume of UAE trade with the world, and 13% of the volume of UAE non-oil exports, and the value of non-oil foreign trade between the two countries amounted to 165 billion dirhams in 2021, registering a growth rate of 66% compared to 2020. India seeks to increase the volume of trade with the UAE to reach $100 billion over the next five years, consolidating its position as one of the country's most reliable trading partners.

• India accounts for 9% of the UAE's trade volume with the world.

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