India, UAE to set up Joint Task Force to explore investments opportunities
New Delhi, May 18 (ANI): External Affairs Minister S.M. Krishna on Friday said India and United Arab Emirates have decided to set up a high-level Joint Task Force to explore further opportunities in investments.
In his opening remarks at the Joint Press Conference with UAE Foreign Minister Sheikh Abdullah bin Zayed Al Nahyan, Krishna said: "The United Arab Emirates' leadership is now keen to address the issue of investments to bring it on par with the multi-faceted relations we enjoy in all other sectors. I am happy to inform you that the two Governments have decided to set up a High Level Joint Task Force to explore further opportunities in investments."
He said the United Arab Emirates is India's largest trading partner, significant contributor to the energy security and hosts about 1.75 million Indian expatriates.
Krishna informed that he and his UAE counterpart focused on the economic ties between the two nations during the talks.
"This is for the third time His Highness, Sheikh Abdullah bin Zayed Al Nahyan, Foreign Minister of the United Arab Emirates are meeting in less than a year. It is an indication of the priority that each of us accords to our bilateral relations," said Krishna.
"Today, we focused particularly on our economic ties. We discussed the forthcoming 3rd India-Arab Economic Conclave to be hosted in Abu Dhabi on 21-22 May 2012 and the proposed Road Show on investment in Abu Dhabi and Dubai that Indian officials intend to undertake in June so as to exchange information and clarify issues related to the investment climate in India," he added.
Krishna further informed that the Managing Director of the Abu Dhabi Investment Authority, Sheikh Hamad bin Zayed al Nahyan, and Union Commerce and Industry Minister Anand Sharma will be leading the respective sides of the high-level Task Force.
"Our bilateral relations have now acquired a new momentum and are progressing towards a comprehensive partnership for the mutual benefit of our countries," he said. (ANI)
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