Prime Minister Narendra Modi is visiting United Arab Emirates (UAE) on 15 May. During this visit, many important agreements are likely to be signed between India and UAE to strengthen energy security. According to sources, two big agreements can be made regarding LPG i.e. cooking gas and strategic petroleum storage. The government believes that these agreements will help in securing India’s energy needs in the long run.
Prime Minister Modi will stay in UAE for about four hours. During this, he will meet UAE President Sheikh Mohammed bin Zayed Al Nahyan. The two leaders are expected to discuss India-UAE strategic partnership, trade, investment and the current situation in West Asia. After this the Prime Minister will leave for a five-day tour of Europe, where he will meet top leaders of many countries.
Special focus will be on energy security
The effect of increasing tension between America and Iran is clearly visible on the global oil market. Due to the increasing crisis in the Strait of Hormuz, there has been increased concern about oil supply around the world. About 20 percent of the world’s crude oil passes through this route. In such a situation, India is emphasizing on increasing cooperation with UAE to strengthen its energy security.
There will be discussion on increasing trade and investment
Trade relations between India and UAE are continuously strengthening. UAE is India’s third largest trading partner. UAE has been the seventh largest source of investment in India in the last 25 years. It is believed that during this visit, both the countries can also agree to increase cooperation in the areas of investment, energy and infrastructure.
Many important meetings during Europe tour
After UAE visit, Prime Minister Modi will visit Netherlands, Sweden, Norway and Italy. During this, issues like defence, green energy, artificial intelligence, space, startup and new technologies will be discussed. The government hopes that this visit will further strengthen economic and strategic relations between India and European countries.
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