United Arab Emirates President Sheikh Mohamed bin Zayed Al Nahyan (MBZ) visited India on Tuesday, resulting in new cooperation agreements between the 2 nations and following Houthi maritime assaults which can be more and more disrupting Gulf waters and encroaching on India’s coast. 

MBZ flew into Ahmedabad in northwestern India’s Gujarat province, the place he was obtained by Indian Prime Minister Narendra Modi. The two then held discussions on bilateral relations, and the president attended the Vibrant Gujarat Global Summit. MBZ was accompanied by a delegation of diplomatic, funding and commerce officers, based on the UAE Ministry of Foreign Affairs.

The following memorandums of understanding had been signed throughout MBZ’s go to, based on a put up on X by India’s External Affairs Ministry spokesperson Randhir Jaiswal:

• The UAE Investment Ministry signed a memorandum with India’s Ministry of New and Renewable Energy on funding cooperation within the renewable power sector.
• The UAE Investment Ministry signed a memorandum with India’s Ministry of Health and Family Welfare on funding cooperation in modern well being care tasks.
• The UAE Investment Ministry signed a memorandum with India’s Ministry of Food Processing Industries on funding cooperation regarding meals park growth. Food parks confer with industrial meals processing facilities.
• The Emirati logistics agency DP World signed a memorandum with the Gujarat provincial authorities on creating sustainable and inexperienced ports.

The assembly was the fourth in lower than seven months between MBZ and Modi, based on Jaiswal. MBZ and Modi beforehand met in Abu Dhabi in July.

Why it issues: Relations between the UAE and India have strengthened significantly lately. India and the UAE signed a Comprehensive Economic Partnership Agreement in 2022. The settlement is actually a free commerce deal that reduces tariffs between the 2 nations.

Trade between India and the UAE amounted to $85 billion in 2022. India is the UAE’s second-largest buying and selling companion, and the UAE is India’s third-largest buying and selling companion, based on a July 2023 launch from the Indian authorities.

Bilateral cooperation strengthened additional in 2023. In August, the UAE and India settled an oil transaction in rupees for the primary time. India and the UAE introduced the creation of the I2U2 enterprise coalition together with the United States and Israel final April, and in March, the Indian and Emirati central banks signed a memorandum of understanding on monetary innovation cooperation.

The UAE, India, the United States, Saudi Arabia and several other European states additionally introduced the India-Middle East-Europe Corridor (IMEC) in September, a transit hall geared toward competing with China’s Belt and Road Initiative.

Mohammed Soliman, director on the Middle East Institute, stated that MBZ’s go to builds on current UAE-India cooperation.

“While the timing of President bin Zayed’s visit to India coincides with the recent Israeli military campaign in Gaza, it shouldn’t be solely interpreted through that lens,” Soliman, who has been concerned in conceptualizing I2U2 and IMEC, informed Al-Monitor. “Instead, it serves to underscore the ongoing momentum and resilience of several minilateral formats involving India, Israel and the UAE, such as the I2U2 and the India-Middle East-Europe Corridor.”

MBZ’s go to additionally comes amid assaults by the Iran-backed Houthi rebels in Yemen on business ships in the Red Sea in response to the Gaza warfare. Several world transport companies are avoiding traversing the ocean consequently. 

On Dec. 23, 2023, the US Defense Department stated a tanker off the coast of India was struck by a drone from Iran. Tehran denied the declare, however the MV Chem Pluto, a Japanese-owned tanker touring roughly 370 kilometers (200 miles) off the coast of India, was focused by Iran, the Pentagon stated. 

The tanker was “Israel-affiliated” and had been on its means from Saudi Arabia to India, reported British maritime safety agency Ambrey.

Soliman stated that the UAE views India as a safety companion along with an financial one. 

“The UAE sees India as a key ally in combating regional threats, as evidenced by joint exercises and intelligence sharing,” he stated. 

The UAE and India are presently holding a joint army train in Mahajan close to the Pakistani border.

Know extra: MBZ visited Azerbaijan on Monday, bringing with him a delegation of power and funding officers.