"Today we have laid the groundwork for what I am confident will be a fruitful series of discussions around issues of significant interest and importance to both the UAE and India," the joint statement quoted Nahyan as saying. Both the sides have agreed to set up five sub-committees on infrastructure, manufacturing, trade and investments, aviation and IT. "The committees would submit their reports in a time-bound manner," Sharma said, adding both sides would also look into the possibility of their private and government companies jointly investing in projects and oil exploration in other regions, including Africa. Sharma also emphasised that Arab business community could tap investment opportunities through Infrastructure Debt Funds (IDFs) in sectors like road, highways, power and other utilities, civil aviation, ports and urban infrastructure. Sharma further said the Indian corporates were keen to participate in oil and gas sector of UAE. The next meeting of the UAE�India High Level Task Force on Investments will be held on a mutually agreed date and location. The high-level task force was established in April 2012 as a platform to address mutual issues associated with existing investments between the two countries and to promote and facilitate investments between the two countries. The Minister also said that India would look into the request of the Gulf nation to treat Abu Dabhi Investment Council and Abu Dabhi Investment Authority as two separate entities.
