India And UAE Signed 9 Agreements To Boost Bilateral Cooperation

India and the United Arab Emirates signed 9 bilateral agreements across various sectors. These agreements were signed during the second day of the three day visit to India of Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Commander of the UAE Armed Forces.

These nine agreements are covering cooperation in the fields of currency swap, culture, investments in the infrastructure sector, renewable energy, space research, insurance supervision, cyber security, skill development and commercial information sharing. The Ministry of External Affairs initially announced four agreements but revised the list later adding five more agreements.

Those Agreements are as follow :- 
1. MoU on Technical Cooperation in Cyber Space and Combating Cyber Crime : The MoU provides for technical cooperation in Cyber Space and in the area of Combating Cyber Crime. 

2. MoU on Establishing a Framework for Facilitating the Participation of U.A.E institutional investors in Infrastructure Investments : The MoU aims at establishing a framework for facilitating the participation of UAE institutional investors in Infrastructure Investments in India.

3. General Framework Agreement on Renewable Energy Cooperation  : The framework agreement provides for bilateral cooperation through extensive projects, investments, cooperation in R & D in renewable and clean energy. Knowledge sharing platforms could also be enacted.

4. MoU between Indian Space Research Organisation (ISRO) and the United Arab Emirates Space Agency on Cooperation in the Exploration and use of Outer Space for Peaceful Purposes : The MoU establishes a framework for cooperation in space science, technology and applications including remote sensing; satellite communication and satellite based navigation.

5. MoU for bilateral cooperation between Insurance Regulatory Authority of India (IRDA) and the Insurance Authority of UAE  : The MoU aims at promoting cooperation between the concerned authorities in the field of insurance supervision through a framework for cooperation and by increasing mutual understanding through the exchange of regulatory and relevant supervisory information to ensure compliance with their respective laws and regulations.

6. Executive Programme for Cultural Cooperation (EPCC) : The Cultural Exchange Programme 2016 – 2018 follows from the existing bilateral cultural agreement (1975) and provides for a range of cultural exchange activities under the new EPCC.

7. Letter of Intent between the Ministry of Skill Development and Entrepreneurship (MSDE) : The Government of India, and The National Qualifications Authority (NQA), Government of UAE on Cooperation for skill development and recognition of qualifications This Letter of Intent provides collaboration on skill developments and mutual recognition of qualifications.

8. MoU between Dubai Economic Council (DEC) and Export-Import bank of India : The MoU provides for both parties to exchange information on trade and business opportunities and to further the goal of facilitating procurement of Indian goods and services by Dubai Government.

9. MoU on Indian Rupee (INR)/UAE Dirham (AED) Bilateral Currency Swap Arrangement  : This MoU promotes bilateral financial relations through currency swap arrangement between the RBI & Central Bank of UAE.


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