12th Joint Commission meeting between India and the UAE |
India and the UAE on reviewed their entire gamut of bilateral ties during their 12th Joint Commission meeting and signed two agreements. The meeting, co-chaired by External Affairs Minister Sushma Swaraj and United Arab Emirates (UAE) Foreign Minister Sheikh Abdullah bin Zayed Al Nahyan, witnessed the signing of a memorandum of understanding (MoU) for development cooperation in Africa. Another agreement on Indian Rupee /UAE Dirham currency swap between the UAE Central Bank and the Reserve Bank of India was also exchanged. With nearly $50 billion bilateral trade, the two countries are one of the largest trade partners for each other and have made robust investments bilaterally. The UAE is the sixth-largest source of India`s oil imports and hosts a 3.3 million-strong Indian Community.
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