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India, UAE to increase trade by 60 pc in five years
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SME Times News Bureau | 11 Jan, 2017
Prime Minister Narendra Modi on Tuesday met UAE Minister Rashid Ahmad
bin Fahad on sidelines of the Vibrant Gujarat summit and agreed that
bilateral trade must be increased by 60 percent over the next five
years, an official said.
Modi expressed satisfaction at the
increasing trade and economic ties with the UAE, said External Affairs
Ministry spokesperson Vikas Swarup, adding increase in bilateral
investment was also a top priority for the government.
The Prime
Minister identified railways, ports, airports and infrastructure sector
as promising areas for UAE's investment, he said.
Modi also
said that the ongoing discussions between the UAE's sovereign wealth
fund ADIA (Abu Dhabi Investment Authority) and India's National
Investment and Infrastructure Fund (NIIF) would yield early and fruitful
results.
He also pointed out the tremendous possibilities in
cruise tourism, linking Goa, Mumbai, Gujarat and Dubai. The UAE side
concurred and said they would scale up partnership with India in all
these areas.
The UAE Minister, who is leading a 50-member
delegation, also conveyed the greetings of the Prime Minister of Dubai
and the Crown Prince of Abu Dhabi.
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