India-UAE resolve to boost their bilateral trade up to $100 billion -

Abu Dhabi: India and the United Arab Emirates (UAE) have decided to take their bilateral trade to $100 billion in the next five years. During the three-day visit of the Indian External Affairs Minister S Jaishankar to the UAE, both countries declared this objective again. The 14th Joint Commission meeting was held in the presence of Indian External Affairs Minister S. Jaishankar and UAE counterpart Sheikh Abdullah bin Zayed Al Nahyan. Besides, External Affairs Minister S. Jaishankar asserted that this meeting was fruitful.

On May 1, 2022, India and UAE signed a Free Trade Agreement. The Foreign Ministers of both countries have expressed satisfaction over the growth in bilateral trade since then. Simultaneously, both countries have set an ambitious goal of taking bilateral trade to $100 billion in the next five years. Along with this, UAE is investing heavily in various sectors of India. The progress in this regard was also reviewed in the discussion between the Foreign Ministers of both countries. While speaking at the UAE’s ‘Anwar Gargash Diplomatic Academy’, Indian External Affairs Minister Jaishankar claimed that the world in the next 25 years would be very different from the present world. He further said that the UAE would play an important role in it.

Moreover, looking at global economies, political arenas and demographic changes, one can conclude that the world will become more multipolar in the future. External Affairs Minister Jaishankar expressed his belief that India’s cooperation with the UAE will be crucial in such a time. It is claimed that the youth population of India will increase in the future. Thus, India’s productivity and progress will increase and due to this, India will emerge as a leading country on all fronts. Jaishankar gives this example while mentioning demographic changes in his lecture. However, Jaishankar insisted that he disagrees with this claim that the United States will decline even when the world becomes multipolar in the future.

Meanwhile, India’s cooperation with UAE, which is modern and reformist, is increasing. Its scope will also increase in the future, said Minister Jaishankar. He further praised UAE by stating that despite being a fuel-rich country, UAE has started working on renewable energy based on hydrogen, considering the future.