Mohamed and Modi hold virtual summit, oversee signing of UAE-India economic pact

Mohamed and Modi hold virtual summit, oversee signing of UAE-India economic pact

His Highness Sheikh Mohamed Bin Zayed, Abu Dhabi Crown Prince and Deputy Supreme Commander of the UAE Armed Forces, and Indian Prime Minister Narendra Modi held a Virtual Summit on Friday. Both leaders expressed deep satisfaction at the continuous growth in bilateral relations in all sectors. Sheikh Mohamed and Modi issued a Joint Vision Statement "Advancing the India and UAE Comprehensive Strategic Partnership: New Frontiers, New Milestone." The statement establishes a roadmap for a future-oriented partnership between India and UAE and identifies focus areas and outcomes. The shared objective is to promote new trade, investment and innovation dynamic in diverse sectors, including economy, energy, climate action, emerging technologies, skills and education, food security, healthcare and defence and security. A major highlight of the Virtual Summit was the signing and exchange of the India-UAE Comprehensive Economic Partnership Agreement (CEPA) by Minister of Economy of UAE, Abdulla Bin Touq Al Marri and Indian Minister of Commerce and Industry Piyush Goyal. in the virtual presence of the two leaders. The Agreement will provide significant benefits to Indian and UAE businesses, including enhanced market access and reduced tariffs. It is expected that the CEPA will lead to increase in bilateral trade from the current