India-UAE commission discusses India's investment in oil sector

New Delhi, June 6 (UNI) The India-UAE Joint Commission for Economic, Technical and Scientific Cooperation today discussed possibilities of Indian investment in hydrocarbon sector in the United Arab Emirates and UAE's investment in India's infrastructure.

The 9th session of the Joint Commission also held discussion on operationalising the Joint Committee, as envisaged in the memorandum of understanding (MoU) on manpower signed between the two countries in December 2006.

External Affairs Minister Pranab Mukherjee and UAE Minister of Foreign Affairs Sheikh Abdullah bin Zayed Al-Nahyan presided over the discussions which also covered ''an assessment of the regional situation by both sides.'' '' In this context, India expressed the hope that this will buttress all ongoing efforts for Israeli-Arab dialogue, and a peaceful, negotiated resolution of the conflict,'' a statement issued by External Affairs ministry said.

During his meeting with the UAE minister, Commerce and Industry Minister Kamal Nath sought more trade in agro-products with UAE, saying India's top priority for exports to UAE is vegetables, fruits, processed foods and poultry.

The two countries, decided to encourage frequent exchanges in the field of economic, commercial and technical cooperation to fully realise the potential that exists in the bilateral relations.

The Joint Commission took note of the three-month amnesty granted by the UAE government to all workers in that country who need to regularise their stay or wish to return to their country of origin.

It also noted the successful visit in March by UAE Prime Minister, vice-president and ruler of Dubai Sheikh Mohammed bin Rashid Al Maktoum.

UNI