Last week’s visit of Shaikh Abdullah Bin Zayed Al Nahyan, the UAE’s Minister of Foreign Affairs and International Cooperation, to India allowed the two countries to further strengthen their historic friendship.
During his visit, Shaikh Abdullah oversaw the signing of a multi-billion dollar agreement for a new refinery and petrochemical complex, discussed a new consulate in the Indian state of Telangana, recognised the contributions of Indian doctors in the UAE and unveiled an initiative commemorating two of its visionary leaders. The signing of an agreement between Abu Dhabi National Oil Company (Adnoc) and Saudi Aramco to jointly invest in the $44 billion (Dh161.83 billion) Ratnagiri refinery and petrochemical complex in the western Indian state of Maharashtra was the economic highlight of the trip. The signing offers further stability to both the UAE, Saudi Arabian and India’s energy sectors, all of which have found innovative ways to support each other during the volatility that has affected the global oil markets since 2014.
Adnoc is currently supplying crude oil for storage in India’s strategic petroleum reserves in Mangalore, with a consignment of two million barrels of oil being delivered just last month. Earlier this year, a consortium of Indian enterprises was awarded a 10 per cent stake in the development of the Lower Zakhum offshore oilfield in Abu Dhabi. As Shaikh Abdullah noted, this agreement shows the UAE is unwavering in its commitment to its strategic multilateral relationships with Saudi Arabia and India, as well as being a reliable partner in India’s energy security.
The possibility of a new consulate in Hyderabad will also be a factor in boosting trade between the UAE and India and allow the UAE to benefit from the developmental initiatives of the state government of Telangana, including an innovative industrial policy aimed at making investments into the state easier.
Shaikh Abdullah’s activities weren’t just limited to business. Shaikh Abdullah, along with Indian External Affairs Minister Sushma Swaraj, announced the first-of-its-kind UAE-India exhibition celebrating visionary leaders of the two countries — late Shaikh Zayed Bin Sultan Al Nahyan and Mahatma Gandhi — an initiative that will allow people to gain an insight into the lives and legacies of each country’s exceptional leaders. Shaikh Abdullah also recognised those efforts of Dr Zulekha Daud in recognition of her five decades of valuable contributions to the health-care sector in the UAE.
Shaikh Abdullah and his team should be congratulated for this successful trip, which will allow the two countries to bolster their economic and social ties.
