Delhi - After PM's official visit to the Gulf nation, a joint statement was issued by the countries. The leaders expressed satisfaction that UAE-India relations have witnessed tremendous progress on all fronts.

India-UAE trade rose to USD 85 billion in 2022, making the UAE India’s third-largest trading partner for the year 2022-23 and India's second-largest export destination.

Furthermore, India is the UAE’s second largest trading partner. In February 2022, India became the first country with which the UAE signed a Comprehensive Economic Partnership Agreement (CEPA). Bilateral trade has increased by approximately 15 per cent since the entry into force of the CEPA.

The Foreign Secretary Vinay Mohan Kwatra said the trip was "short but very significant, a landmark in the partnership between India and the UAE."
Briefing about PM Modi's UAE visit, Kwatra said PM Modi held "extensive discussions with the President of the UAE, Sheikh Mohamed bin Zayed Al Nahyan."

He also termed the visit to be of "tremendous strategic significance" as it showcased the "deep bond of friendship and trust" between the Prime Minister Modi and the UAE President.

India and the UAE signed the Comprehensive Economic Partnership Agreement (CEPA) last year and since the signing of that important strategic landmark agreement between the two countries, the trade and economic partnership and engagement has grown significantly between the two countries, Kwatra said. He noted that "visit this time puts together another pillar of that strategic economic partnership in a couple of important ways."

The leaders of both the countries noted the significant global roles played by both countries in 2023, with India’s presidency of the G20 and the UAE’s presidency of COP28. The UAE side appreciated the hosting of the Voice of Global South Summit by India in January 2023. The Indian side also commended the UAE for its instrumental role in promoting the Global South's interests at COP28 and making COP28 a "COP of action.”