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Energy security is expected to emerge as one of the key focus areas during Prime Minister Narendra Modi's upcoming visit to the United Arab Emirates, with two important agreements in the areas of Liquefied Petroleum Gas (LPG) and Strategic Petroleum Reserves likely to be concluded, according to sources.
The development assumes significance as the UAE recently exited the OPEC+ framework, making direct bilateral energy partnerships increasingly important for both countries, particularly in the areas of long-term energy supply and strategic storage cooperation. Prime Minister Modi will pay an official visit to the UAE on May 15, during which he will meet UAE President Mohamed bin Zayed Al Nahyan. According to a statement issued by India's Ministry of External Affairs, the two leaders will exchange views on bilateral issues, particularly energy cooperation, as well as regional and international developments of mutual interest. The ministry added that both sides will also discuss ways to advance the India-UAE Comprehensive Strategic Partnership, which is supported by strong political, cultural, economic and people-to-people ties. "The visit will serve to promote the significant trade and investment linkages between the two countries," the statement added. India and the UAE have steadily expanded cooperation in the energy sector over the past few years, including crude oil supply arrangements, investments in strategic petroleum reserves and collaboration in downstream petroleum infrastructure. The UAE is currently India's third-largest trade partner and its seventh-largest source of cumulative foreign investment over the last 25 years. The visit is also expected to focus on the welfare of the more than 4.5 million-strong Indian diaspora living in the UAE, which remains one of the largest expatriate communities in the Gulf region. (ANI)
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