New Delhi: In his first State visit, Crown Prince of Abu Dhabi and Deputy Supreme Commander of UAE armed forces Sheikh Mohamed bin Zayad Al Nahayan will arrive here on Wednesday and hold wide-ranging talks with Prime Minister Narendra Modi on key issues including security and stability of the Gulf region, which hosts over seven million Indians.
The talks are also expected to focus on cooperation in strategic areas of trade and energy as that region is the source of nearly two-third of India’s crude oil requirements and its largest trading partner. UAE alone contributes significantly to India’s energy security and is the sixth largest supplier of crude oil to India in 2014-15.
“India has vital stakes in the security and stability of the Gulf region, which hosts over seven million Indians. This region is also the source of nearly two-third of India’s crude oil requirements and is our largest trading partner,” an External Affairs Ministry release said here today.
“During the forthcoming visit, the Crown Prince of Abu Dhabi will call on the President and hold bilateral talks with Modi on issues of mutual interests,” it added.
The three-day visit by the Crown Prince comes nearly six months after Modi’s trip to UAE during which the two countries agreed to elevate the relationship to a comprehensive strategic partnership.
Noting that India and UAE have historically enjoyed close and friendly relations anchored on mutually beneficial commercial exchanges and extensive people-to-people contacts, the release said the well-balanced bilateral trade amounted to USD 59 billion in 2014-15, making UAE our country’s third largest trading partner.
It is also among the largest investors in India in terms of foreign direct investments.
About 2.6 million strong and vibrant Indian community forms the largest expatriate group in UAE, the release said, adding their positive and well-appreciated contribution in the development of their host country has been an important anchor of excellent bilateral engagement.