(MENAFN- KNN India)
New Delhi, Sep 10 (KNN)
India and the United Arab Emirates (UAE) have signed a Memorandum of Understanding (MoU) for civil nuclear cooperation, marking the first such agreement between the two nations.
The agreement was formalized during the visit of sheikh Khalid bin Mohamed bin Zayed Al Nahyan, crown prince of Abu Dhabi, to India on Monday.
The MoU, signed between the Nuclear Power Corporation of India Limited (NPCIL) and the Emirates Nuclear energy Company (ENEC)-led Barakah Nuclear Power plant Operations and Maintenance, represents a significant step forward in the bilateral relationship.
This agreement builds upon the foundation laid during Prime Minister Narendra Modi's visit to the UAE in August 2015, where both countries expressed their intent to cooperate in the peaceful use of nuclear energy.
The nuclear cooperation agreement is part of a broader framework of energy collaboration.
In September 2022, the foreign ministers of India, UAE, and France launched a trilateral cooperation format, which was further discussed in February 2023.
This initiative aims to promote cooperation in various energy sectors, with a particular focus on solar and nuclear energy.
During the Crown Prince's visit, several other significant agreements were signed.
These include a long-term LNG supply MoU between Abu Dhabi National Oil Company (ADNOC) and Indian Oil Corporation Limited, an agreement between ADNOC and India Strategic Petroleum Reserve Limited (ISPRL), a Production Concession Agreement for Abu Dhabi Onshore Block 1 between Urja Bharat and ADNOC, and an MoU between the Government of Gujarat and Abu Dhabi Developmental Holding Company PJSC (ADQ) for food parks development in India.
The agreements signed during this visit underscore the deepening ties between India and the UAE, as well as the broader Gulf Cooperation Council (GCC) region.
Recently, the first India-GCC Foreign Ministers' meeting took place in Riyadh, Saudi Arabia, where Indian External Affairs Minister S. Jaishankar highlighted India's growing energy needs and the GCC's crucial role in global energy supply.
These developments reflect the evolving strategic partnership between India and the UAE, encompassing energy security, economic cooperation, and regional stability.
As both nations continue to strengthen their ties, this nuclear cooperation agreement represents a significant milestone in their bilateral relations and sets the stage for further collaboration in the energy sector.
The ongoing diplomatic efforts and economic agreements demonstrate a shared commitment to fostering a robust and multifaceted relationship between India and the UAE.
(KNN Bureau)
MENAFN10092024000155011030ID1108658544
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.