ABU DHABI, 17th November, 2016 (WAM) — The UAE-India Joint Working Group on Infrastructure Investments yesterday held its first meeting in Abu Dhabi. The meeting addressed a range of infrastructure investment-related topics of mutual interest.
The Working Group was created under an MoU signed between the UAE and India in February 2016 during the state visit to India of H.H. Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces.
The agreement seeks to establish a framework to facilitate the participation of UAE institutional investors in infrastructure investments in India, in a manner consistent with the established investment criteria and standards of these institutions to secure appropriate and suitable commercially achievable financial returns. Comprising senior relevant representatives from the UAE and India, the Working Group operates under the auspices of the UAE-India Joint Task Force on Investments, formed in 2012 to progress efforts to cement close bilateral economic cooperation between the respective countries.