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Ties across the sea
Context
Prime Minister Narendra Modi's recent visit to the United Arab Emirates (UAE) underscores the government's emphasis on enhancing ties with the UAE, reflected in the signing of 10 bilateral agreements including the Bilateral Investment Treaty (BIT) and Comprehensive Economic Partnership.
India-UAE Bilateral Engagement:
- Key-partnership: India is focusing on strengthening ties with UAE with the signing of Bilateral Investment Treaty (BIT) and Comprehensive Economic Partnership Agreement (CEPA), making the UAE India's key trade and investment partner in the Gulf region.
- Stable interlocutor: The inauguration of Bharat Mart for Indian MSMEs and agreements focusing on technological cooperation, energy security, and the India-Middle East Economic Corridor highlight the strategic significance of India-UAE relations, positioning the UAE as a stable interlocutor in the region amidst discussions on regional security and stability.
- Mutual cooperation: Historical and cultural engagement, along with a significant Indian diaspora contributing to India's global remittances, forms the foundation of India-UAE ties, while differences in governance models and societal changes present potential friction points, underscoring the importance of mutual understanding and cooperation between the two nations.
Historical and Cultural Bonds:
- Cultural and economic cooperation: India-UAE relations are anchored in centuries-old maritime trade and a sizable Indian diaspora contributing significantly to India's global remittances, fostering cultural and economic ties between the two nations.
- Challenges & concerns: While India's technological capabilities complement the UAE's role as a trade and industry hub, differences in governance models and societal changes pose challenges, with the UAE expressing concerns over rising majoritarian forces in India.
- Promoting understanding: Prime Minister Modi's emphasis on shared values of tolerance and pluralism during his visit reflects efforts to strengthen cultural ties and address concerns, promoting mutual understanding and cooperation between India and the UAE.
Strategic Significance and Regional Cooperation:
- Growing importance: Prime Minister Narendra Modi's recent visit to the UAE underscores the growing importance of India-UAE relations, highlighted by the signing of 10 bilateral agreements spanning trade, investment, technology, and regional cooperation.
- Trade relations: The UAE emerges as a key partner for India in the Gulf region, with agreements such as the Bilateral Investment Treaty (BIT) and Comprehensive Economic Partnership Agreement (CEPA) strengthening economic ties and positioning the UAE as India's third-largest trading partner.
- Strong foundation: Historical and cultural engagement, along with a significant Indian diaspora contributing to India's global remittances, forms the foundation of India-UAE ties, while differences in governance models and societal changes present potential friction points, underscoring the importance of mutual understanding and cooperation between the two nations.
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