India explores ‘untapped potential’ with UAE as foreign minister visits Abu Dhabi

India’s External Affairs Minister Subrahmanyam Jaishankar shakes hands with UAE Foreign Minister Sheikh Abdullah bin Zayed Al-Nahyan in Abu Dhabi on June 23, 2024. (Ministry of External Affairs)
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Updated 24 June 2024
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India explores ‘untapped potential’ with UAE as foreign minister visits Abu Dhabi

  • Subrahmanyam Jaishankar’s UAE visit seen as strong indicator of bilateral relations
  • Visit was his first to the Gulf country since his re-appointment earlier this month 

 

NEW DELHI: India is exploring new areas of cooperation with the UAE, the Ministry of External Affairs said on Monday after the foreign minister’s first official trip to Abu Dhabi since his re-appointment.

 

India-UAE relations have grown considerably since 2022, when they signed a landmark comprehensive economic partnership agreement to boost two-way trade and investment.

On Sunday, External Affairs Minister Subrahmanyam Jaishankar visited Abu Dhabi to meet with his Emirati counterpart Sheikh Abdullah bin Zayed Al-Nahyan, where they reviewed bilateral relations and discussed new opportunities.

“Both ministers reviewed the multifaceted India-UAE Comprehensive Strategic Partnership and expressed happiness at the substantive progress in diverse areas of bilateral cooperation,” the external affairs ministry said in a statement.

“They also discussed new areas with untapped potential for further enhancing collaboration.”

Jaishankar’s UAE trip, which came within two weeks of his re-appointment, “signifies the importance India attaches to its relations with the country,” the ministry said.

“The visit marks the continuation of high-level contact between the two countries.”

India’s Prime Minister Narendra Modi, who won a historic third term as the country’s prime minister earlier this month, has visited the UAE three times, the ministry said, while UAE President Sheikh Mohamed bin Zayed Al-Nahyan has visited the South Asian nation twice.

Kabir Taneja, a fellow at the Delhi-based Observer Research Foundation, said Jaishankar’s visit indicates the focus of India’s foreign policy in Modi’s new term.

“It is very interesting. The first state visit to India was by the Bangladesh prime minister, and the first visit of the Indian foreign minister was to the UAE. It shows the centrality of the UAE in India’s policy towards West Asia,” he told Arab News, referring to Bangladeshi premier Sheikh Hasina’s trip to New Delhi over the weekend.

“It shows that India has really put the UAE on the mantle so to speak as a strategic partner, trade partner, as an economic partner … I think it’s a very strong positioning of the bilateral (relations) between the two countries.”


EU says Ukraine to spend bulk of 90-bn-euro loan on military needs

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EU says Ukraine to spend bulk of 90-bn-euro loan on military needs

  • The European Commission said it was pushing for Kyiv to receive the first disbursement in April
  • Von der Leyen said the funds will be used to buy weapons mainly from Ukraine and European nations

BRUSSELS: Two-thirds of a vital 90 billion euros ($105 billion) EU loan for Ukraine will go to cover Kyiv’s military apparatus with the rest earmarked for general budget support, Brussels said Wednesday.
Agreed by EU member states in December after months of diplomatic wrangling, the loan offers cash-strapped Ukraine a desperately needed lifeline as Russia’s invasion of its neighbor grinds toward its fifth year.
The European Commission said it was pushing for Kyiv to receive the first disbursement in April, as it provided details of the facility at a press conference in Brussels.
“With this support, we make sure that Ukraine can on one hand bolster its defense on the battlefield and strengthen its defense capabilities — so, its military needs — and on the other hand keep the state and basic services running,” EU chief Ursula von der Leyen told reporters.
Von der Leyen said the funds will be used to buy weapons mainly from Ukraine and European nations — something France and others have long said is key to bolster the EU’s defense industry and ease dependence on the United States.
But if the necessary equipment were not to be readily available in Europe, it would be occasionally possible for Kyiv to shop outside the continent, the commission president added.
“For us it is a lot of money. These are billions and billions that are being invested. And these investments should have a return on investment in creating jobs, in creating research and development,” said von der Leyen.
The loan, which is to cover two-thirds of Ukraine’s financial needs for the next two years, has to be approved by the European Parliament and member states before the money can start to be paid out.
It was agreed last month by European Union leaders who settled on a loan backed by the bloc’s common budget, after plans to tap frozen Russian central bank assets fell by the wayside.
The EU has said Ukraine would only need to pay back the money once Moscow coughs up for the damages it has wrought.
Brussels will cover interest costs, expected to hover around three billion euros per year, through the EU budget.