Modi Signs a Trade Agreement Across Continents while in the UAE

Modi Signs a Trade Agreement Across Continents while in the UAE

India and the United Arab Emirates signed a trade agreement on Tuesday to use Middle Eastern ports to link the subcontinent with Europe.

The agreement was revealed when Indian Prime Minister Narendra Modi visited Abu Dhabi and met Sheikh Mohammed bin Zayed Al Nahyan, the president of the United Arab Emirates.

“This would build on previous understandings and cooperation on this matter and foster India and the UAE cooperation furthering regional connectivity,” India’s Foreign Ministry said in a statement.

Sheikh Mohammed stated that “our region is going through a difficult time but because of our relationship with [India], we are building a lot of hope and looking forward to a future with India that is on par with our ambitions.”

What specifics are in the contract?
A planned ship-to-rail transit network called the India-Middle East-Europe Economic Corridor was first announced on the fringes of the G20 meeting in New Delhi last year.

Originally, the trade route was supposed to run from India to the UAE across the Arabian Sea, then on to Saudi Arabia, Jordan, and Israel before ending in Europe.

The “intergovernmental framework agreement” announced on Tuesday, however, only mentioned the United Arab Emirates and India.

The European Union and the United States have previously endorsed the idea.

Hindu temple to be inaugurated by Modi
This is Modi’s third visit to the UAE in eight months, and it will stay for two days.

He is scheduled to speak at a community gathering on Wednesday to an estimated 60,000 Indian expats and to open the biggest Hindu temple in the area.

The UAE is home to more Indian nationals than any other Gulf state, numbering about 3.5 million.

Sanchita Patil

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