NEW DELHI\/DUBAI: The UAE and India approved the framework for a strategic defense partnership on Friday during Prime Minister Narendra Modi\u2019s visit to the Gulf nation, the Indian Foreign Ministry said.<\/p>\n
The UAE and India also signed pacts on strategic petroleum reserves and supply of liquefied petroleum gas, the ministry said in a statement.<\/p>\n
Under the strategic \u200cdefense partnership, \u201cthe two \u200csides have agreed on deepening defense industrial collaboration and cooperation \u200con innovation and advanced technology, training, exercises, maritime security, cyber defense, secure communications and information exchange,\u201d it said.<\/p>\n
The UAE\u2019s decision last month to leave OPEC is expected to boost its output and help importing countries such as India.<\/p>\n
The US and Israeli war on Iran, now \u200cin its third month, has roiled global energy \u200cmarkets with the closure of the Strait of Hormuz, a vital chokepoint for the \u200cflow of around 20 percent of global oil. It has also disrupted transportation \u200cand business across the Gulf as Iranian strikes hit Gulf countries, including the UAE, before a fragile ceasefire was reached last month.<\/p>\n
In January, Abu Dhabi and New Delhi signed a $3 billion deal for India to buy LNG from the UAE, its third \u200clargest trading partner, as well as a letter of intent to work toward forming a strategic defense partnership.<\/p>\n
In its statement on Friday, the Indian foreign government also announced UAE investments worth $5 billion, pointing to past deals including Emirates NBD\u2019s acquisition of a 60 percent stake in RBL Bank last year for $3 billion, and Abu Dhabi\u2019s IHC $1 billion investment in Sammaan.<\/p>\n","protected":false},"excerpt":{"rendered":"
NEW DELHI\/DUBAI: The UAE and India approved the framework for a strategic defense partnership on Friday during Prime Minister Narendra Modi\u2019s visit to the Gulf nation, the Indian Foreign Ministry said. The UAE and India also signed pacts on strategic petroleum reserves and supply of liquefied petroleum gas, the ministry said in a statement. Under …<\/p>\n","protected":false},"author":4,"featured_media":97852,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-97839","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-world"],"_links":{"self":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts\/97839","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/comments?post=97839"}],"version-history":[{"count":1,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts\/97839\/revisions"}],"predecessor-version":[{"id":97854,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts\/97839\/revisions\/97854"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/media\/97852"}],"wp:attachment":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/media?parent=97839"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/categories?post=97839"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/tags?post=97839"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}