UAE Crown Prince to visit India
Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and deputy supreme commander of the armed forces of the UAE will be on an official visit to India, starting 10 February. Seven ministers, including those of energy, foreign affairs and economy will be accompanying the Prince on his visit. A business delegation with 100 members will also accompany the Prince to India.
The United Arab Emirates is located in the southeast of the Arabian Peninsula, bordering Oman to the east and Saudi Arabia to the south. Established in 1971, it is a federation of seven states, Abu Dhabi, Ajman, Dubai, Fujairah, Ras al-Khaimah, Sharjah, and Umm al-Quwain. UAE has a population of 9.2 million, of which 1.4 million are Emirati citizens and 7.8 million are expatriates.
Roughly 40% of the United Arab Emirates' GDP is based on oil and gas output. With over 2.82 million bpd (barrels per day) it is the 8th largest producer of oil and at 2.5 million bpd is the 4th largest exporter of oil in the world.
After H.H. Sheikh Zayed Bin Sultan Al Nahyan became the Ruler of Abu Dhabi in 1966 and subsequently with the creation of the UAE Federation in 1971, ties between India and UAE flourished. Official visits began after UAE's President, Sheikh Zayed bin Sultan Al Nahyan, visited India in 1975. India's first Prime Ministerial visit was in 1981 when Indira Gandhi visited UAE.
UAE houses 2.6 million Indians who contribute to the local economy as well as to that of India through remittances. With over $75 billion in bilateral trade, UAE is India's third largest trading partner in the world after China and the United States. India exports petroleum products, precious metals, gemstones, textiles etc. to UAE, and imports mostly oil, gas, chemicals and wood products.
The Indian population in UAE is made up of 15-20% professionally qualified personnel, 20% white-collar nonprofessionals (clerical staff, shop assistants, sales men, accountants, etc) and 65% blue-collar workers. Annual remittances made by the Indian community in UAE amount to over US$15 billion.
Prime Minister Narendra Modi's visit to UAE in September 2015, was his maiden attempt at engaging the Arab world. Modi saw UAE as his gateway for deeper economic and strategic engagement with the Gulf Co-operation Council countries. During the visit, Modi announced the elevation of the India-UAE relationship to a comprehensive strategic partnership, a first between India and any Gulf country.
India and the United Arab Emirates are expected to sign as many as 16 agreements spanning across various sectors. The meeting seeks to increase UAE's economic support in India's infrastructure, in railways, ports, roads, airports and industrial corridors. The meeting also seeks to improve bilateral collaboration on atomic power stations and setting up of research centres "to enhance the peaceful use of nuclear energy."
