India, UAE agree to ensure speedy normalisation of air transport operations

India and UAE on Saturday agreed to work on a priority basis to ensure the speedy normalisation of air transport operations between the two countries.

"Given the importance of air transport in facilitating bilateral ties and people-to-people connections, both sides agreed that their respective civil aviation authorities should continue to work together on a priority basis, for their mutual benefit, to ensure the speedy normalisation of air transport operations between the two countries," according to a statement by the UAE authorities.

The two nations held the ninth meeting of the India and UAE high-level joint task force on investments.

The meeting was co-chaired by Sheikh Hamed bin Zayed Al Nahyan, Member of the Executive Council of the Emirate of Abu Dhabi, and Piyush Goyal, Minister of Commerce & Industry, Consumer Affairs, informed the statement.

Senior officials representing relevant government authorities and various investment entities from both countries took part in the meeting.

At the meeting, the two sides noted the impact of the COVID-19 pandemic on global trade and investment and reiterated the importance of continuing to strengthen the deep economic ties between the two countries.

Both sides recognised the collaboration between India and the UAE during this difficult period and appreciated the leadership provided by the two countries in their regions to confront the pandemic, according to the statement.

Commenting on the meeting of the Joint Task Force, Sheikh Hamed bin Zayed Al Nahyan, Co-Chair of the Joint Task Force and Member of the Executive Council of the Emirate of Abu Dhabi, said that India and the UAE share a broad and deep strategic partnership, and this has helped bilateral economic ties continue to strengthen despite the challenges of the COVID-19 pandemic.

"The Joint Task Force offers an important platform for dialogue between our two countries, raising new opportunities for trade and investment, and removing bottlenecks to further cooperation. Looking ahead, India and the UAE share ambitious goals to expand trade and investment activities between our countries, and the Joint Task Force will continue to play an important role in achieving these objectives," the statement quoted him as saying.

Meanwhile, Piyush Goyal noted that the world will continue to witness greater achievements in the India-UAE partnership in the future.

"India and UAE have longstanding ties which have become stronger in the recent times and our continued engagement even during the pandemic reflect the priority this partnership holds for both our nations," he said.

"Our leadership accords a special place to our relationship with the UAE and our bilateral forums like the Joint Task Force provide effective mechanisms to build on our long-standing friendship. Given the strong growth prospects of the Indian economy, we look forward to increased investment from the UAE in diverse sectors of India," he added.

The progress of ongoing discussions for the India-UAE Comprehensive Economic Partnership Agreement, which will be a significant and wide-reaching step in promoting trade and investment between the two countries, was also reviewed during the meeting.

"In this regard, both sides appreciated the efforts made to expedite discussions towards a well-balanced agreement that will considerably deepen bilateral economic ties and benefit the economies of both countries," the statement read.

Participants also considered ongoing efforts to amend the UAE and India's longstanding Bilateral Investment Treaty and noted the importance of concluding the negotiation process as soon as possible.