World News | PM Modi's UAE Visit Yields Defence, Energy Deals, $5 Bn Investment Commitment
Get latest articles and stories on World at LatestLY. Prime Minister Narendra Modi's visit to the United Arab Emirates (UAE) on Friday resulted in major agreements and investment announcements across defence, energy, infrastructure and banking sectors.
Abu Dhabi [UAE], May 15 (ANI): Prime Minister Narendra Modi's visit to the United Arab Emirates (UAE) on Friday resulted in major agreements and investment announcements across defence, energy, infrastructure and banking sectors.
According to the announced outcomes of the visit, India and the UAE signed an Agreement on Framework for the Strategic Defence Partnership, further strengthening bilateral strategic and security cooperation.
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The two countries also signed a Memorandum of Understanding on Strategic Petroleum Reserves and an agreement on supplies of Liquefied Petroleum Gas (LPG), boosting cooperation in the energy sector.
In the maritime sector, both sides signed an MoU on setting up a Ship Repair Cluster at Vadinar.
In a major investment announcement, investments worth USD 5 billion were announced in Indian infrastructure as well as in RBL Bank and Samman Capital.
Prime Minister Narendra Modi also held delegation-level talks with the UAE President Sheikh Mohamed bin Zayed Al Nahyan. On his arrival, he was accorded a guard of honour as he landed in Abu Dhabi.
Prime Minister Narendra Modi on Friday emplaned for Abu Dhabi as part of his five-nation tour from May 15-20, covering the United Arab Emirates (UAE), the Netherlands, Sweden, Norway and Italy, aimed at deepening India's strategic partnerships across trade, technology, energy, innovation and green growth, while reinforcing New Delhi's expanding engagement with Europe and the Gulf region.
After the UAE, PM Modi will travel to the Netherlands from May 15-17, where he is scheduled to hold talks with Dutch Prime Minister Rob Jetten and meet King Willem-Alexander and Queen Maxima. The visit is expected to focus on sectors such as semiconductors, green hydrogen, innovation, defence and water management.
The Prime Minister will then visit Sweden on May 17-18 and hold bilateral talks with Swedish Prime Minister Ulf Kristersson. The two leaders are also expected to jointly address the European Round Table for Industry along with European Commission President Ursula von der Leyen.
Discussions are expected around AI, emerging technologies, green transition and resilient supply chains.In Norway, PM Modi will participate in the 3rd India-Nordic Summit in Oslo on May 19 and hold bilateral talks with Norwegian Prime Minister Jonas Gahr Støre. The summit will also see participation from leaders of Denmark, Finland, Iceland and Sweden. (ANI)
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