NEW DELHI: Pratik Mathur, Indiaโs Consul General in Shanghai, met with his UAE counterpart, H.E. Muhammad Alnaqbi, today to explore new avenues for deepening the strong and long-standing partnership between India and the United Arab Emirates.
The discussion highlighted ongoing initiatives aimed at strengthening cooperation across multiple sectors.
In December 2024, India and the UAE convened the 4th Strategic Dialogue and the 15th Joint Commission Meeting in New Delhi, led by External Affairs Minister Dr. S. Jaishankar and UAE Foreign Minister Sheikh Abdullah bin Zayed Al Nahyan.
These high-level discussions focused on expanding collaboration in defense, advanced technologies, nuclear energy, and renewable power.
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A major milestone was the signing of an MoU between the Emirates Polar Mission Steering Committee and Indiaโs National Centre for Polar and Ocean Research, paving the way for enhanced joint efforts in polar exploration and scientific studies.
A key aspect of India-UAE economic cooperation is the Comprehensive Economic Partnership Agreement (CEPA), which came into effect on May 1, 2022.
This agreement has played a crucial role in driving non-oil trade between the two nations, with an ambitious goal of reaching $100 billion.
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By lowering tariffs on over 80% of traded goods, CEPA has significantly improved market access and streamlined trade.
Additionally, in July 2023, both countries introduced a local currency settlement mechanism, allowing transactions in Indian Rupees and UAE Dirhams.
This move reduces dependency on the US dollar and enhances trade efficiency.
The discussions between Consul Generals Mathur and Alnaqbi reflect the continued momentum in strengthening India-UAE relations, reaffirming both nationsโ dedication to deepening economic, strategic, and diplomatic cooperation.
