India, UAE sign pacts on cyber security & investments

NEW DELHI: India and the UAE on Thursday signed four agreements across various sectors, including cyber security and investments, after Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Commander of the UAE Armed Forces, and Narendra Modi held dialogue to further expand their security and counter-terror partnership.

“The strength of a multifaceted relationship. The leaders witness the exchange of four agreements across various sectors,” external affairs ministry spokesman Vikas Swarup said after the agreements were exchanged by officials from both sides in the presence of Al Nahyan and Prime Minister Narendra Modi.

The four agreements cover the fields of cyber security, infrastructure investment, renewable energy and currency swap arrangements. Details of understanding in other areas of cooperation including space, oil and peaceful nuclear energy are expected to be outlined in the joint statement.

India hopes for massive outflow of funds from UAE for its growing market and development of modern infrastructure. Al Nahyan was accorded a ceremonial welcome at the forecourt of the Rashtrapati Bhavan following which the President shared nostalgic moments of his association with the Crown Prince’s father and founder of the UAE.

Al Nahyan is being accompanied by a high-level delegation comprising seven ministers, senior officials and business leaders. He will leave for Mumbai on Friday where he will visit the Bombay Stock Exchange and meet business leaders of the country.