Dubai: The UAE is in a new round of governance as working days begin today following a three-day holiday following the death of former President Sheikh Khalifa bin Zayed Al Nahyan. The world hopes that the new president, Sheikh Mohammed bin Zayed Al Nahyan, will make more popular announcements in the coming days, although the policy approaches adopted by his predecessors will not change.
The Indians celebrated his accession to India as his closest friend. He was particularly interested in the rapid emergence of the India-UAE Comprehensive Economic Partnership Agreement (CEPA). International political and economic observers say his visit to India as UAE head of state will not be delayed.
Sheikh Mohammed is well known in the international arena as he has decades of experience, maturity and simplicity in various capacities.
Possibility Free Trade Agreement
Economists hope that the India-UAE Free Trade Agreement, which will pave the way for a number of initiatives and employment opportunities, will be crucial in the post-Kovid period. The agreement aims to increase trade between the two countries from the current $ 6 trillion (Rs 4.5 trillion) to $ 10,000 trillion (Rs 7.5 trillion) within five years.
The UAE is investing heavily in India in the areas of transport, real estate and energy. A businessman from the UAE and a representative from the Abu Dhabi Rulers’ Office recently visited India. The UAE, which has allocated Dh38,800 crore for stimulus packages to overcome the Kovid challenges, said the huge opportunities provided to investors will play a major role in economic growth in the coming years.
India’s loyal defense partner
India-UAE cooperation in defense and maritime security can be expected to be even stronger. Discussions on the decision were held in New Delhi recently. The high-level UAE military delegation visited military units and training centers in India. These include the School of Artillery, the Armed Corps Center and School, the Mechanized Infantry Center and School, the National Defense Academy, the Army Southern Command Hospital, the Army Institute of Physical Training, the Military Intelligence School, and the Bombay Engineers’ Group and Center, which builds motor vehicles. The two countries have joined hands to take strong action against terrorist networks, organizations providing assistance to terrorists and extremists, and financial resources.
To Africa to reap the benefits
With the success of the Expo without even the slightest security breach, great opportunities opened up for the UAE. Sixty countries, including in the African region, are preparing to set up embassies in the UAE. All of these countries can launch investment projects and attract investors. This will effectively benefit India as well. In 2018, projects targeting the India, UAE and Africa industrial axis were launched.
With the realization of the potential in the UAE, countries in Africa and the Pacific island community are preparing for large-scale ventures, including Papua New Guinea, Tuvalu and Tanzania. Papua New Guinea, rich in gold mines, is reported to have reached an agreement on a number of important projects.