UAE-India form Comprehensive Strategic Partnership, ink ADNOC oil storage deal
The Crown Prince of Abu Dhabi General Sheikh Mohammed Bin Zayed Al Nahyan (C) is met by Indian Prime Minister Narendra Modi (R) and Indian President Pranab Mukherjee (L) in New Delhi January 25, 2017. (AFP/Money Sharma)
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The UAE and India today signed an agreement allowing the Gulf nation to fill the strategic oil storage facility in southern India, a report said.
The agreement and several other deals were signed following talks between His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and India's Prime Minister Narendra Modi.
India and UAE also decided to elevate the bilateral relationship to a Comprehensive Strategic Partnership, said the Times of India report.
India in 2014 began talks to lease part of its strategic storage to Abu Dhabi National Oil Company (Adnoc). Under such a deal, India would have first rights to the stored crude in case of an emergency, while Adnoc would be able to move cargoes to meet any shift in demand.
The deal was signed by Indian Oil Minister Dharmendra Pradhan and a representative of Adnoc.
The UAE contributes significantly to India's energy security and was the fifth largest supplier of crude oil to India in 2015-16.
Sheikh Mohamed and Modi also discussed ways of boosting bilateral ties and a number of regional and international issues of mutual interest.
The talks, held in Hyderabad House in New Delhi, began with Prime Minister Modi welcoming Sheikh Mohamed bin Zayed and the accompanying delegation. Modi praised the special relationship that ties the two nations together and the mutual eagerness to increase cooperation for the service of the two friendly peoples.
Sheikh Mohamed bin Zayed expressed his gratitude and appreciation to the Indian government and Prime Minister Narendra Modi for the enthusiastic and friendly reception and their generous hospitality. He also congratulated the Indian people and government on the occasion of the 68th Republic Day, a Wam news agency report added.
He pointed out that he has sensed, during several discussions between the two leaderships, a shared desire to strengthen bilateral relations and to move them steadily forward, adding that this shared desire made him more confident that the two countries would be able build a true strategic partnership that serves current and future generations. He said he believes the relationship between India and the UAE have all the elements that qualify it to be one of the most important and strongest bilateral relationships in the region and the world and the one with most potential.
In their talks, the two leaders discussed existing bilateral relations and how to foster them. They also discussed a number of regional and international issues, including current regional developments such as terrorism and violence, and other issues of mutual interest.
At the conclusion of talks, the two sides stressed that UAE-India relations were witnessing major developments and breakthroughs at the strategic level, and voiced their shared enthusiasm about taking all necessary measures to push these relations forward.
The two leaders also stressed that the UAE and India share a common interest in working for peace and stability in the region and the rest of world by helping to resolve disputes and conflicts by peaceful means. They also reiterated that they share a common desire to confront forces of terrorism and extremism and to create a secure and stable regional and international environment that serves the interest of all nations and help them develop and prosper.
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