UAE crown to pay a three day visit to India
UAE: Crown Prince Sheikh Mohamed bin Zayed Al Nahyan, of Abu Dhabi and also the Deputy Supreme Commander of Armed Forces General of UAE is paying a 3-day visit to India starting on 10th of the month. The visit is after the Indian Prime Minister’s visit to UAE last August, the first visit any Prime Minister made in the history of the country in the past 34 years to any Middle East country.
According to the papers signed by the head’s of the two countries, UAE’s head decided on investing in basic needs of the country like railways, airports, roads, industrial sector and so on. The country also decided to invest $75 billion to the construction genre of India. According to statistics, in 2014-15,UAE ranked sixth in terms of crude oil export to India.
India’s eternal ministry said, “India and the UAE have historically enjoyed close and friendly relations anchored on mutually beneficial commercial exchanges and extensive people to people contacts. Our well-balanced bilateral trade amounted to $59 billion in 2014-15, making the UAE our third largest trading partner.”
India is indirectly responsible for GCC (Gulf Cooperation Council) countries’ stable economic flow because about seven million Indians are employed in various sectors. Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the UAE clubbed together is called GCC.