mm-news-@dmin Two sides sign letter of intent to work towards forming strategic defence partnership, says Indian official
- ADNOC Gas signs 10-year LNG deal with India’s HPCL.
- UAE, India agree to double two-way trade to $200bn.
- Both sign the letter of intent for a defence partnership.
India signed a $3 billion deal on Monday to buy liquefied natural gas from the United Arab Emirates. Making it the UAE’s top customer, as the leaders of both countries held talks to strengthen trade and defence ties.
UAE President Sheikh Mohammed bin Zayed Al Nahyan signed the agreement. During a brief two-hour visit to India for talks with Indian Prime Minister Narendra Modi. They pledged to double bilateral trade to $200 billion in six years and form a strategic defence partnership.
Abu Dhabi state firm ADNOC Gas will supply 0.5 million metric tonnes of LNG. A year to India’s Hindustan Petroleum Corp for 10 years, the companies said.
ADNOC Gas said the agreement brings the total value of its contracts with India to over $20 billion.
“India is now the UAE’s largest customer and a very important part of ADNOC Gas’ LNG strategy,” the company said.
The UAE is India’s third-largest trading partner, and Sheikh Mohammed was accompanied by a government. Delegation that included his defence and foreign ministers.
The two sides signed a letter of intent to work towards forming a strategic defence partnership. India’s Foreign Secretary Vikram Misri told reporters.
India’s arch-rival neighbour, Pakistan, signed a mutual defence agreement with Saudi Arabia last year, and last week a Pakistani minister announced the preparation of a three-way draft defence agreement between Pakistan, Turkey and Saudi Arabia.
Misri, however, said that the signing of the letter of intent with the UAE does not mean that India will get involved in regional conflicts.
He said their involvement in defence and security with a regional country does not necessarily mean they will engage in specific regional conflicts.
