India, UAE sign 12 pacts

India and UAE have signed a slew of 12 pacts, during President of the United Arab Emirates, H.H. Sheikh Mohamed bin Zayed Al Nahyan one-day official visit to India. Here are the details.

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*Letter of Intent on Investment Cooperation between the Government of Gujarat, Republic of India and the Ministry of Investment of the United Arab Emirates for Development of Dholera Special Investment region

*Letter of Intent between the Indian National Space Promotion and Authorisation Centre (IN-SPACe) of India and the Space Agency of the United Arab Emirates for a Joint Initiative to Enable Space Industry Development and Commercial Collaboration

*Letter of Intent between the Republic of India and the United Arab Emirates on the Strategic Defence Partnership

*Sales & Purchase Agreement (SPA) between Hindustan Petroleum Corporation Limited, (HPCL) and the Abu Dhabi National Oil Company Gas (ADNOC Gas)

*MoU on Food Safety and Technical requirements between Agricultural and Processed Food Products Export Development Authority (APEDA), Ministry of Commerce and Industry of India, and the Ministry of Climate Change and Environment of the United Arab Emirates

*Establishment of a supercomputing cluster in India

*Double bilateral Trade to USD 200 billion by 2032

*Promote bilateral Civil Nuclear Cooperation

*Setting up of offices and operations of UAE companies -First Abu Dhabi Bank (FAB) and DP World in the GIFT City in Gujarat

*Explore establishment of ‘Digital/ Data Embassies’

*Establishment of a ‘House of India’ (a cultural space consisting of, among others, a museum of Indian art, heritage and archaeology) in Abu Dhabi

*Promotion of Youth Exchanges

For more details read here: https://www.pib.gov.in/PressReleseDetail.aspx?PRID=2216278&reg=3&lang=1

Prime Minister Narendra Modi and UAE President Sheikh Mohamed bin Zayed Al Nahyan reviewed the full scope of bilateral cooperation between the two countries. They agreed that the India-UAE Comprehensive Strategic Partnership has continued to strengthen over the past decade, said a joint statement.

Buoyed by the enthusiasm of the business communities on both sides, they decided to double bilateral trade to target USD 200 billion by 2032, it added.

Both sides reaffirmed their strong commitment to enhancing UAE–India cooperation in food security, recognising its strategic importance in ensuring sustainable supply chains and long-term resilience, the joint statement added.

The two leaders agreed to deepen cooperation in space sector, it added.

They welcomed signing a 10-year LNG Supply Agreement between Hindustan Petroleum Corporation Limited (HPCL) and ADNOC Gas for the delivery of 0.5 million tonnes per year of liquefied natural gas, beginning in 2028, the statement added.

The leaders also welcomed the enactment of the Sustainable Harnessing and Advancement of Nuclear Energy for Transforming India (SHANTI) law, noting that it creates new opportunities for enhanced civil nuclear cooperation.

The two sides agreed to explore partnership in advanced nuclear technologies, including development and deployment of large nuclear reactors and Small Modular Reactors (SMRs), as well as cooperation in advanced reactor systems, nuclear power plant operations and maintenance and nuclear safety, the statement said.

Read the full text of joint statement here: https://www.pib.gov.in/PressReleseDetail.aspx?PRID=2216270&reg=3&lang=1

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