India, UAE to discuss ways to expand bilateral trade, investments

India and the United Arab Emirates (UAE) will discuss ways to expand bilateral trade, investments and strengthen cooperation in defence, here on Thursday.

Issue of terrorism and threat of Islamic State terror group are also likely to figure during the meeting between visiting Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces General Sheikh Mohamed bin Zayed Al Nahyan and Prime Minister Narendra Modi at the Hyderabad House.

The Crown Prince arrived in New Delhi yesterday evening on a three-day visit to India.

Prime Minister Modi received him at the Air Force Station, Palam calling him a 'close friend'.

In a tweet, Prime Minister Modi described Sheikh Mohammed as a visionary leader saying his visit will add new vigour and momentum to comprehensive strategic partnership between India and UAE. The Crown Prince is being accompanied by a high-level delegation.

Earlier, Secretary East in the External Affairs Ministry, Anil Wadhwa told reporters that India and UAE have committed to raise their bilateral trade by 60 percent in the next five years.

He said, "The two sides are drawing an action plan to achieve this target. Bilateral trade amounted to 59 billion dollars in 2014-15, making UAE third largest trading partner of India."

"Agreements in various sectors including nuclear energy, oil, IT, aerospace, defence and trade are likely to be inked today after the talks between the visiting dignitary and the Prime Minister at Hyderabad House," he added.