India and the United Arab Emirates (UAE) will tomorrow sign a strategic cooperation treaty along with several other after the talks between Prime Minister Narendra Modi and Crown Prince of Abu Dhabi Sheikh Mohamed bin Zayed Al Nahyan. The later reached the national capital today evening and was received by the PM himself at tha airport.
While speaking to the reporters on the visit, Amar Sinha, Secretary Economic Relations said “substantial” outcome in defence and security is expected where both countries will strethen their cooperation.
— ANI (@ANI_news) January 24, 2017
Both leaders will also hold one-on-one meeting before reaching Hyderabad House for delegation-level talks. Pointing out that the UAE has the largest sovereign fund and are looking at investment, he said there was a pact that they would invest close to $75 billion in India in next couple of years.
The secretary while maintaining that the decision to raise the bilateral ties to strategic level had already been taken, he added that both sides are still signing an agreement which is more like an action plan which brings out concrete idea of what both India and the UAE are committed to do.
On the issue of energy cooperation, Sinha said the UAE wants to become a strategic partner in energy sector and will be investing and filling one of India’s important strategic reserves.
(With inputs from PTI)