India and the United Arab Emirates (UAE) will deepen maritime and security cooperation in the region, as per a ‘Joint Vision Statement’ signed between the two countries on Friday during a virtual summit between Prime Minister Narendra Modi and Sheikh Mohamed bin Zayed Al Nahyan, the Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces.
“The leaders agreed to support international efforts to maintain peace and security in the region and resolve regional conflicts, including efforts to support the reactivation of the Middle East Peace Process in line with the two-state solution and based on the relevant United Nations Security Council resolutions and previous agreements between the parties,” stated the joint statement.
Both India and the UAE also expressed their support for the Abraham Accords, hoping that they would “contribute to regional peace and create positive change for the Middle East region.”
On its part, the UAE has “reaffirmed” its support of India in dealing with “cross-border terrorism,” an indirect reference to New Delhi’s accusation against Islamabad of supporting terrorist groups targeting Indian assets.
The security announcements come amid several drone, missile and sea-based attacks by Yemen-based Houthi militants against the UAE and its maritime assets over the last two months.
Riyadh and its allies have accused Iran of arming the Houthis, whereas Tehran says its support to the group is only political.
“We strongly condemn the recent terrorist attacks against the UAE. India stands shoulder-to-shoulder with the UAE in dealing with terrorism,” Prime Minister Modi said during his opening remarks at the virtual meeting.
Two Indians were killed in a drone attack targeting petroleum storage facilities in Abu Dhabi on 17 January, prompting a strong rebuke from Indian Foreign Minister S Jaishankar at the time. Responsibility for the attack was claimed by the Houthis, who warned that the UAE would be “unsafe” as long as it engaged in aggression against the militant group.
On 2 January, the Houthis also seized a UAE-flagged merchant vessel off the coast of Yemen. Seven of the 11 crew members aboard the ship were Indians, also raising concerns in New Delhi.
India, UAE Ink Trade Deal
India and the UAE also signed the Comprehensive Economic Partnership Agreement (CEPA) during the virtual meeting, a trade pact which both governments say could increase bilateral trade from nearly $60 billion to $100 billion in the next five years.
The UAE is currently India’s third-largest trading partner and its second-largest export destination after the US.
The two governments also pledged to diversify their trade, which currently remains heavily reliant on energy exports from the UAE and India’s export of processed petrochemical products to the Gulf monarchy.
“The Roadmap (Vision Statement) will promote the development of new trade, investment, and innovation dynamics, and intensify bilateral engagement in diverse areas,” said the joint statement.
Furthermore, both countries have pledged to deepen their energy cooperation, with the joint statement stating that the UAE would continue to “ensure the provision of affordable and secure energy supplies to India’s growing economy."
Indian Foreign Minister S Jaishankar hailed the signing of the trade pact as well as the vision document, saying that both initiatives “will provide contours for future growth of our bilateral relationship for a glorious, shared future.”
“Overall, the two [CEPA and the vision document] will deepen our strategic partnership," Jaishankar remarked in an interview with Emirati state agency WAM News.