PM Modi holds talks with UAE President; bilateral investment treaty inked

Abu Dhabi: Prime Minister Narendra Modi on Tuesday said he had an excellent meeting with the UAE's President Sheikh Mohamed bin Zayed Al Nahyan during which they reviewed the strategic partnership, discussed new areas of cooperation and witnessed the signing of several key agreements, including bilateral investment treaty.

The two leaders held oneon-one and delegation-level talks soon after Modi landed here.

The reviewed the bilateral partnership and discussed new areas of cooperation.

They welcomed the dee pening of the Comprehensive Strategic Partnership across sectors, including trade and investment, digital infrastructure, fintech, energy, infrastructure, culture and people-to-people ties.

The two leaders witnessed the exchange of eight a g reements including a Bilateral Investment Treaty, MoU on cooperation in the field of electrical interconnection and trade and an Intergovernmental Framework Agreement between India and UAE on the India-Middle East Economic Corridor.

The Treaty is expected to improve the confidence of the investors, especially larg e investors, resulting in an increase in Foreign Investments and Overseas Direct Investment (ODI) opportunities.

Modi will inaugurate the Bochasanwasi Shri Akshar Purushottam Swaminarayan Sanstha (BAPS) Mandir, the first Hindu stone temple in Abu Dhabi, on Wednesday. (PTI)