Abu Dhabi: Prime Minister Narendra Modi on Saturday held comprehensive talks with UAE President Sheikh Mohamed bin Zayed Al Nahyan here to further deepen the multi-faceted bilateral ties, and announced that the two countries have agreed to start trade settlement in their currencies.
In his remarks after meeting the UAE President, Modi said India-UAE trade witnessed a 20 per cent increase since the signing of the Comprehensive Economic Partnership Agreement last year.
Modi said the agreement signed on Saturday for trade settlement in the currencies of the two countries shows the strong economic cooperation and mutual trust between the two nations.
The agreement with the UAE on trade settlement in the two countries' currencies will boost bilateral trade and investments.
Modi said he always got the love of a brother from Sheikh Mohamed bin Zayed Al Nahyan.
"The manner in which ties between our countries have expanded, you have made a big contribution to that. Every person in India views you as a true friend," he told the UAE President.
Modi was accorded a ceremonial welcome here at the Qasr-Al-Watan - the presidential palace - where he was greeted by the UAE President with a warm embrace. Children were seen waving the Indian tricolour as the Prime Minister inspected the guard of honour.
India and the UAE are engaged across various sectors such as trade, investments, energy, food security, science and technology, education, fintech, defence, security, and robust people-to-people ties.
Assures support for COP28
Prime Minister Narendra Modi assured India's full support for UAE's COP28 presidency as he held productive talks with the UN climate conference's President-designate Sultan Al Jaber on ways to further sustainable development here on Saturday.
Modi arrived here in the capital of the UAE following his successful two-day visit to Paris where he joined French President Emmanuel Macron for the Bastille Day parade as the Guest of Honour and signed several agreements to strengthen bilateral ties.
"Had a very productive meeting with Dr. Sultan Al Jaber, the President-designate of @COP28_UAE. Our discussions focused on ways to further sustainable development. Highlighted India's contribution in this direction, in particular our emphasis on Mission LiFE," he tweeted.
"Dr. Jaber briefed PM on the forthcoming COP-28. PM assured India's full support for UAE's COP-28 presidency. PM also highlighted India's efforts and initiatives to address climate change," External Affairs Ministry Spokesperson Arindam Bagchi tweeted.
The 2023 United Nations Climate Change Conference or Conference of the Parties of the UNFCCC, more commonly referred to as COP28, will be the 28th United Nations Climate Change conference, held from November 30 until December 12 at the Expo City, Dubai.
The conference has been held annually since the first UN climate agreement in 1992. It is used by governments to agree on policies to limit global temperature rises and adapt to impacts associated with climate change.
The COP28 summit will be the first formal assessment of countries' progress towards the Paris Agreement's target to limit climate change to 1.5 Celsius of warming.
The assessment at COP28 - known as the Global Stocktake - will increase pressure on major emitters to update their actions to cut greenhouse gas emissions.
