PM Modi holds wide-ranging talks with Crown Prince of Abu Dhabi, 5 pacts signed

Indian Prime Minister Narendra Modi held wide-ranging talks with Crown Prince of Abu Dhabi Mohamed bin Zayed Al Nahyan last night. PM Modi, who arrived in Abu Dhabi on Saturday evening, was received by the Crown Prince Zayed and other members of the Royal family at the airport. The Prime Minister thanked Zayed for the special gesture of receiving him at the airport and said his visit would have a positive impact on India-UAE ties.

After their talks, the two countries signed five agreements related to the energy sector, railways, manpower and financial services. These include a historic pact awarding a consortium of Indian oil companies a 10 per cent stake in offshore oil concession.

A Memorandum of Understanding (MoU) between Indian Consortium and Abu Dhabi National Oil Company (ADNOC) was signed for the acquisition of a 10 per cent participating interest in the Abu Dhabi’s offshore Lower Zakum Concession. This is the first Indian Investment in the upstream oil sector of UAE, transforming the traditional buyer-seller relationship to a long-term investor relationship.

To cooperate in the field of manpower, India and the UAE signed a MoU that aims to institutionalise the collaborative administration of contractual employment of Indian workers in the Gulf country. Under the MoU, both the sides will work to integrate their labour related e-platforms for ending the existing malpractices, combat trafficking and organise collaborative programs for education and awareness of contractual workers.

A MoU for technical cooperation in railways was also signed between the two sides. The MoU aims at cooperation in infrastructure sector especially railways.

To deepen bilateral cooperation in the field of finance, a MoU between Bombay Stock Exchange and Abu Dhabi Securities Exchange was also signed. It aims at enhancing cooperation between both the countries in the financial services industry.

The Prime Minister visited Wahat Al Karama, the UAE martyr’s war memorial in Abu Dhabi on Sunday. Later, PM Modi will travel to Dubai where he will interact with the Indian community at an event at the Dubai Opera House.

PM Modi visiting Wahat Al Karama, the UAE martyr’s war memorial in Abu Dhabi on Sunday

Prime Minister will also witness the groundbreaking ceremony of the first Hindu temple in Abu Dhabi.

The ceremony will be live-streamed to the Opera House. PM Modi will also deliver a keynote address at the World Government Summit in Dubai where India is a guest of honour this year.

He will make an inaugural address on the theme: ‘Technology for development’. More than 140 countries are participating in the Summit. Twenty Heads of States, head of governments and International organizations are likely to participate in the World Government Summit.

Earlier, PM Modi travelled to Ramallah, becoming the first Indian Prime Minister to make an official visit to Palestine.

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