PM reaches UAE; inks key pacts with crown Prince
ABU DHABI: India and the UAE signed Mous in presence of Prime Minister Narendra Modi and Sheikh Mohammed bin Zayed Al Nahyan, crown Prince of Abu Dhabi and deputy supreme commander of the UAE armed forces, on Saturday. The Mous are related to energy sector, railways, manpower and financial services.
An MOU between Indian consortium (OVL, BPRL & IOCL) and ADNOC was signed for acquisition of 10% participating interest in the offshore Lower Zakum concession. The concession will be for 40 years from 2018 to 2057, 60% of the participating interest will be retained by ADNOC and remaining 30% will be awarded to other international oil firms. This Federal Transport Authority - is the first Indian investment in land & maritime of UAE. The upstream oil sector of UAE, MOU aims at cooperation in infratransforming the traditional buystructure sector especially railer-seller relationship to a longways. term investor relationship. The MOU will facilitate devel
To cooperate in the field of opment of joint projects, knowlmanpower, India and UAE signed edge sharing, joint research and an MOU that aims to institutionaltechnology transfer. The MOU ise the collaborative administraenvisages formation of a joint tion of contractual employment working group for institutionalof Indian workers in UAE. Under ising the cooperation mechathe MOU, both the sides will work nism. to integrate their labour related To deepen bilateral cooperae-platforms for ending the existtion in the field of finance, an MOU ing malpractices, combat trafbetween Bombay Stock ficking and organise collaboraExchange and Abu Dhabi Securitive programmes for education ties Exchange was signed. It aims and awareness of contractual at enhancing cooperation workers. between both the countries in
An MOU for technical cooperafinancial services industry. The tion in rail sector was also signed MOU envisages information between ministry of railways and exchange, exchange of experts and training for mutual benefit of both the countries. The MOU would facilitate investment in financial markets by investors from both the countries. An MOU between government of J&K and DP World was also singed to establish multi-modal logistics park and hub in Jammu.
Earlier, Modi, who arrived from Jordan on the second leg of his t hree-nation tour, was received by Crown Prince of Abu Dhabi Mohammed Bin Zayed Al Nahyan and other members of the Royal family at the airport.
“Reached UAE. This visit includes a wide range of programmes which will have a positive impact on India-uae ties. I thank HH Mohamed bin Zayed Al Nahyan for the special gesture of receiving me,” Modi tweeted.